City of Greater Geraldton Council has unanimously endorsed a business case to seek funding from the Mid West Development Commission (MWDC) for the purchase of Lot 601 Foreshore Drive, commonly referred to as the ‘PTA’ land.

City Mayor, Ian Carpenter, said the PTA land is arguably the most strategic parcel of land in the city centre.

“Its ultimate development, and the character of development, will have a dramatic impact on the future vitality, vibrancy and viability of the central business district (CBD) as a tourist and shopping destination for generations to come. If we don’t acquire this important site we will have little control over what gets developed on it and when,” he said.

Owned by the Public Transport Authority (PTA), Lot 601 – between Foreshore Dr and Marine Tce, Geraldton – has languished undeveloped for some years since the redevelopment of the Geraldton Foreshore, with previous private developers’ plans for the location falling through.

City Mayor, Ian Carpenter, said it was time the land was developed and used to its maximum potential.

“The lack of development is of serious concern to the Council, CBD traders and the wider community and development of the land should of the highest priority within the City to achieve Council’s vision for its City centre,” said Mr Carpenter.

The City indicated interest in purchasing this prime piece of real estate and in November 2013 approached the Mid West Development Commission Board with an Expression of Interest for the commission to fund the purchase.

The EOI was considered by the MWDC Board on November 28 and the board subsequently invited the City to submit a full business case. The City’s business case will go before the MWDC Board in March.

“Proceeds from the development of the site will be quarantined to fund further development in the City Centre,” Mr Carpenter said.