Frankston harbour project on hold


Frankston will have to wait a while longer before this artist’s impression of the harbour becomes a reality.

Frankston harbour project on hold
Frankston harbour project on hold
The long-awaited Frankston Safe Boat Harbour Project on Port Phillip Bay has been put on hold due to unfavourable market conditions.

The Frankston City Council (FCC) came to the decision to postpone the project following an assessment of current market conditions. It undertook discussions with industry groups, developers and operators in the industry as well as consultants familiar with economics affecting the marina market. The FCC says the next next market assessment will occur early next year.

"Council's intention is to re-tender the Safe Boat Harbour project as soon as market economic conditions permit. The next review of market conditions will be undertaken in the first quarter of 2012," said FCC’s CEO, George Modrich.

Mayor Kris Bolam said Council will ascertain whether improvement in conditions is sufficient to allow the project to be re-tendered in 2012. "Based on discussions Council has had with prominent marina developers, a local proposal isn’t economically viable at the present time," Mayor Bolam said.

Visit www.frankston.vic.gov.au
for more info.


 


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