WA Govt now buying units in Private Developments
THE McGowan government has purchased 13 apartments to help get a Booragoon residential development over the line, but the WA Opposition says it’s shocked by the lack of transparency.
The 13 apartments in the 15-storey Amara complex are one of four projects the government has put $13.8 million into because strict financing requirements –reportedly now up to 100 per cent pre-sales – had left them in limbo.
Housing minister Peter Tinley said the aim was creating jobs and boosting social and affordable housing.
“Our estimates indicate that buying the 32 apartments across these four developments will result in the construction of projects that will generate an estimated $94 million in economic activity,” he said.