WYNDHAM City Council has given the developers of the $440 million Wyndham Harbour marina project a further 20 months to buy a parcel of council-owned land in Duncans Rd, Werribee South, needed for the project.
Prudentia Investments Pty Ltd, which is developing the project, now has until 31 December 2009 to sign the contract of sale.
The contract had previously been extended twice to reflect the volume of planning work involved in preparing the Environment Effects Statement and planning phases. The final plan is still not yet completed.
The price agreed in 2003 between the developers and the council will rise annually based on the Reserve Bank’s official bond rate. On an average of 5.75 per cent a year, the cost of the land will be about 32 per cent greater than the $1 million agreed to in 2003.
Cr Henry Barlow said the company had spent millions of dollars to get to this point.
“They’ve had to jump through hoops with the State Government on the environmental effects,” he said.
“I’ve been very impressed with the tenacity they’ve put into this development and they’ve shown an extreme amount of goodwill.
“I fully support this motion and give them the opportunity to build the marina we’ve been after down there for 20 years.”
Cr Peter Ross said the proposed marina was sought after by the boating community.
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“There’s no safe harbour and marina on this side of Port Phillip Bay – nothing between Hobsons Bay and Geelong,” he said.
“And it’s a very long coastline.”
The council adopted a report stating the project had been supported by the majority of the community on several occasions and would provide another avenue for social outlet and improved pride in the area.
The extension of the sale date will assist the developers in securing funding for the project.
The council believes the project will provide stimulus to the community through jobs, marketing opportunities and events.
The company’s Wyndham Harbour website says the marina will have the capacity for up to 1000 wet berth boats, including six super yacht berths.
There will be 300 dry berths for boats.
Harbour attractions will include commercial and retail facilities, restaurants, a new beach and fishing platforms on the breakwater.
As well, there’ll be homes and apartments.
