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Nov 16, 2006 at 03:03 PM

The St Andrews holding of Tokyu Corporation is over 5,500 hectares in area. It is the largest privately owned parcel of designated "future urban" land in the Perth metropolitan area and possibly within an Australian capital city.

The Western Australian Government has completed a fifteen year process of structure planning and major regional rezoning and will soon complete its review of the North West Corridor Structure Plan, including a new concept plan for the Yanchep Two Rocks area. Now that the regulatory and environmental framework is in place, Tokyu Corporation has recently completed the signing of a major joint venture with The Capricorn Investment Group for stage one development of some 9,000 residential lots, retail, tourism, health and aged care facilities over coming years.

Conceptual studies already indicate that the St Andrews project will be the largest "new town" project in Australia. The site will be developed in conjunction with a regional economic strategy (The IDEA Project ) designed to generate 50,000 jobs during the 25 year build out phase as determined by feasibility studies.

Last Updated ( Jul 17, 2007 at 06:23 PM )