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Brookfield’s $367m Tower Approval a Plus for Perth

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Brookfield Properties is investing more than $1 billion in developments in Perth with the approval of twin $367 million towers in Elizabeth Quay.

The development consists of two towers 56 and 21 storeys high alongside the Swan River adding 52,000sqm of high-quality office space, 1,800sqm of dining and retail space, 237 apartments and 84 hotel rooms to the CBD.

The project by New York-based architects Rex in consultation with Hassell has been refined from its original concept, dubbed “Plus+”, which featured a cantilevered cross-shaped section half-way up the tallest tower.

The approval adds to Brookfield's under-construction projects in the area including the adjoining $360 million Chevron tower and the $300 million EQ West tower.

Brookfield executive vice president Carl Schibrowski said they welcomed the state government's decision and forecast the project's completion in 2024.

“Lots 5 and 6 Elizabeth Quay is a transformational project for Perth that will connect the Perth CBD with the Swan riverfront,” Schibrowski said.

“Brookfield is Perth’s largest office owner and remains committed to the long-term future of this vibrant global city.

“Elizabeth Quay is a critical new mixed-use addition to the CBD.”

Related: Brookfield Sells Half-Stake in $800m Chevron HQ

▲ Brookfield Properties has a number of properties under construction in Elizabeth Quay, Perth as well as the Esplanade Plaza near the train station.
▲ Brookfield Properties has a number of properties under construction in Elizabeth Quay, Perth as well as the Esplanade Plaza near the train station.


The development also includes the provision of approximately 2,500sq m of public open space at the ground level and will feature a galleria and southern plaza.

All three Elizabeth Quay projects designed to achieve minimum five-star Green Star and NABERS energy ratings.

Premier Mark McGowan said they will continue to support projects that boost the state's economy while generating life and vitality in the city.

“This promises to be a landmark development for our city, in what is another sign that confidence is returning to Western Australia's economy,” McGowan said.

“The two towers will generate thousands of jobs during construction and many more ongoing jobs.”

A number of approvals have been given in Perth recently, aimed st helping support the Western Australian economy through Covid and beyond.

Finbar and Ventrade were given the go-ahead for a $200 million brewery and apartment towers; there are $1 billion apartment plans on the cards for the Perth Girls School precinct and Edith Cowan University is moving forward on a $695 million vertical campus.

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Article originally posted at: https://theurbandeveloper.com/articles/brookfields-perth-developments-add-up-to-1bn-plus