Some of Australia’s leading developers are lodging tenders for the exciting $300 million Casey Main Street project.TENDERS are rolling in for the $300 million Casey Main Street development.
City of Casey officials said the tender process, which closes on 20 March, had produced a “very good response”.
The $300 million plan will result in 5.1 hectares of land adjacent to the Fountain Gate Shopping Centre being transformed into a retail, civic and community lifestyle and leisure precinct.
Additional car parking will also be constructed for the development, which officials predict will have a retail catchment of 600,000 people.
Speculation has surrounded which developer will be awarded the project, with Westfield expected to be a frontrunner.
The multinational company already operates the existing Westfield Fountain Gate Shopping Centre.
Casey director of infrastructure services Ray Butler said the city wanted the tender process to be competitive and “get the best price for the City of Casey”.
The project will be governed by a five-year development lease that will be superseded by a 50-year ground lease on completion of the development.
A major part of the project involves the Main Street strip – a public realm space designed to be a thriving commercial area along the lines of Chapel Street in South Yarra and Church Road in Richmond.
Casey officials said they would shortlist the tenders over the next few months with the successful developer announced, along with the signing of an agreement to lease, in September.
Works are expected to start in 2010-11.
