The City of Karratha is seeking public feedback on a proposed business plan for a development that would deliver 116 apartments in Bulgarra.

At its March 2024 Ordinary Meeting, the Council resolved to conduct an Expression of Interest (EOI) for Housing Development. The key goals of this EOI included:

• Providing details on undeveloped, development-ready lands within the Karratha town centre.
• Supporting the development of affordable housing, government housing, and private rentals/sales.
• Aggregating demand to support scale economies and improve investment yields.
• Inviting proposals for additional housing development on city-owned lands.
• Considering incentives to boost the feasibility of housing projects, such as discounted lands, rates incentives, long-term leases, and infrastructure support.

The proposal would see apartments built by a private developer on three City-owned lots in Bulgarra with a mix of one bedroom, two bedroom and three bedroom apartments.

The proposed transaction would involve the properties being leased to the Proponent for a period of 20 years. The Proponent would construct and operate the residential apartment complexes for the term of the lease. Control of the apartment complexes would then revert to the City at the conclusion of the lease term.

To facilitate the development, the City is proposing to provide debt finance to the Proponent in the amount of $56 million to fund construction of the residential complexes. This debt would be repaid with interest over the lease term.

As detailed in the Business Plan, it is anticipated that Council will incur a net funding cost of $9.1m over the 20-year lease term, while inheriting an asset with a forecast book value of $46.6m, providing a forecast net return of $37.5m to ratepayers in addition to the benefit of 116 residential dwellings.

30 Nairn Street, Bulgarra	Lot 751 Gregory Way, Bulgarra	17 Ridley Street, Bulgarra
5,501 sqm	9,545 sqm	5,105 sqm
48 apartments: · 15 x 1-brm/1-bth · 27 x 2-brm/2-bth · 6 x 3-brm/2-bth	36 apartments: · 12 x 1-brm/1-bth · 18 x 2-brm/2-bth · 6 x 3-brm/2-bth	32 apartments: · 8 x 1-brm/1-bth · 20 x 2-brm/2-bth · 4 x 3-brm/2-bth

The City has released a business plan for the purpose of public consultation and will consider public submissions on the Business Plan in May 2025.

Concurrent to the City’s advertising of the business plan, the proponent is currently going through the Development Application process for the development. Once public submissions are considered, if Council resolves to proceed with the development then execution of lease, loan and development agreements would be required. It is expected that construction could commence in the 2nd half of 2025 with completion by the end of 2026.

We invite residents and stakeholders to review the draft Business Plan and provide their feedback. The Business Plan is available for public inspection at the City’s offices and for viewing by accessing the document on the right hand side of this page named 'Housing Development Business Plan - Bulgarra Apartments'.

Submissions can be made using the form below until 5pm, 21 May 2025, and all feedback will be considered by the Council before making a final decision.

Your input is crucial in ensuring that the proposed development meets the needs of our community. By participating in this consultation process, you help shape the future of housing in Karratha.