Revival Plans for $180 Million The Pearl High-Rise in South Perth Amid Developer Change
The $180 million high-rise project, The Pearl, in South Perth is set for revival under new developers Josh Letcher and Dan Mendocca of Velentes, following the liquidation of the previous developer. The Metro Inner Development Assessment Panel is considering an extension for construction to February 20, 2027, with revised plans that include 113 dwellings and a reduced budget of $129 million, while design changes replace commercial space with short-stay accommodations and eliminate the underground carpark due to high water levels.
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The stalled $180 million high-rise project, The Pearl, in South Perth may be revived as former navy engineers Josh Letcher and Dan Mendocca take over the development through their company Velentes. The Metro Inner Development Assessment Panel will consider extending the construction deadline to February 20, 2027.
Originally, substantial works were expected to start by February 20, 2023, but the project stalled after the previous developer, Dragon Century, went into liquidation. The revised project aims to provide 113 dwellings, balancing high-end and affordable options, with an estimated completion cost of $129 million, reducing the budget by $51 million.
Design changes include replacing commercial space with short-stay accommodation and eliminating the underground carpark due to high water levels. Approval for these changes was granted in October 2023.
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