The first high-rise apartment complex in Western Australia’s Karratha region, Pelago West, has been built to due to growing demand in the Pilbara.
The $125 million 10-storey complex is helping the government's Pilbara Cities vision to be realised, according to regional development and lands minister Brendon Grylls.
“Karratha is rapidly growing and this project relieves pressure on housing and paves the way for future developments in the Pilbara,” Mr Grylls said.
“From the beginning, Finbar recognised the opportunities available in the Pilbara and they took the decision to take on the challenge of constructing the first high-rise building in the region.
“Today we are seeing the tangible results of that partnership, and Pelago West now stands proudly in the heart of Karratha’s city centre to demonstrate what can be achieved when the public and private sectors work together,” he said.
The development includes 1,000sqm of mixed commercial space, and has current interested investors and major corporations as well as locals.
Stage Two of the project, Pelago East, is currently under construction and scheduled for completion in 2014.
The 2012/2013 state budget pledged more than $779.2 million to the Karratha region, having also tipped it for growth.
Treasurer Christian Porter said that the Pilbara region would benefit with this injection of funding, geared towards a number of areas, including infrastructure.
“The Liberal-National Government recognises the important contribution the Pilbara makes to Western Australia and is committed to improving the standard of living in regional WA,” Mr Porter said.
“This Budget helps ensure the continued growth of the Pilbara and is part of a longer term plan by the Government to maintain and strengthen the vibrancy of regional WA,” he said.