The State Government has announced the successful proponents of the first two development sites at Montario Quarter in Shenton Park.
The former site of the Joondalup Basketball Stadium is set to be transformed into a new multigenerational development with homes, aged care, childcare, leisure and medical facilities.
Carmel Group and Aegis Aged Care Group are the successful proponents for Lot 701 Collier Pass and will build a $100 million development on the 1.69 hectare site.
Formerly home to the Joondalup Wolves basketball team - which relocated to the nearby HBF Arena - Lot 701 was offered to market through a process managed by LandCorp.
The land will be subdivided into three lots to facilitate an integrated development linked by a shared public open space with tree-lined walkways, children's play areas and a community garden.
It is anticipated that the development will commence in 2020 with an estimated completion date in 2024.
The proposed development is set to become an iconic site at the entry to the Joondalup City Centre and will include a five-storey, 140-suite aged care centre to be owned and managed by Aegis Aged Care Group, with respite care facilities.
A second lot will cater for retirement living, with Carmel Group developing 74 independent living units over six storeys to be managed by a specialist provider.
Lot three, with frontage to Collier Pass, will become the site of a landmark mixed-use eight-storey tower comprising 72 family apartments, as well as 46 serviced apartments. The 4,600sqm site will also include a medical centre, hospitality and retail outlets, childcare facilities and office space.
Comments attributed to Lands Minister Rita Saffioti:
"We have contracted two quality proponents that will transform an ideally positioned site into an iconic entry statement to the Joondalup City Centre.
"We are facilitating innovative solutions to higher-density requirements, and this development will ensure residents enjoy the benefits of a vibrant, connected community, with a range of established amenities on their doorstep.
"This is a great example of the State Government's commitment to delivering a diverse range of aged care options that allow people to remain connected to their communities, and their established social and family networks."
Comments attributed to Joondalup MLA Emily Hamilton:
"This is a development that will transform the face of our city centre, and provide a quality high-density development in the Joondalup CBD.
"It will provide the opportunity for our older Australians to age in place and enjoy access to great transport options; medical, education and recreational facilities and shopping centre.
"This project will provide a boost to our local economy, deliver local jobs and foster multigenerational living - helping to build a stronger community."