The Barnett Government will rely on a radical funding model to deliver its 60,000-seat Burswood Stadium as it revealed the cost of the project would escalate beyond $900 million when it is completed by 2018.
Unveiling the long-awaited projection definition plan, a so-called rule book guiding the stadium design, Premier Colin Barnett yesterday also revealed details of a $70.2 million sports precinct around the stadium.
Describing the precinct cost as an "additional decision but a good one", it would increase the stadium's footprint by 38 per cent and make it impossible to replicate the project at Labor's preferred site of Kitchener Park in Subiaco.
"We've made a decision on Burswood and only a change of government can change that decision and that would mean at least a two-year delay," Mr Barnett said. "We would not have a new football stadium this decade."
Under the plan, the cost of the stadium and surrounding precinct is estimated at $760 million in 2011 figures. But with inflation it would rise to $902.6 million in 2018.
The estimated $300 million to improve public transport access is tipped to increase at a similar rate, though final costs are to be revealed in a separate analysis in December.
The project would be built using a "design-build-finance-maintain" Model where the private sector will design and construct the stadium, contribute finance and be responsible for long-term maintenance.
Treasurer Troy Buswell said the model, used for the new Goldfields Prison, ensured "value for money", and had incentives to deliver the project on time and on budget.
But Labor's Ken Travers said the cost escalations represented the cost blowout the Opposition had always predicted and he tipped further blowouts when the Government addressed transport issues.
He would not rule out taking the project back to Subiaco if Labor won Government.
The plan provides for average crowds of 39,000 and between 32 and 39 events at the stadium each year.
The events would include 22 AFL home and away games, AFL finals, major rugby and soccer events, possible blockbuster cricket events and concerts.
The project is set to feature several Australian firsts, including dugout-style, boundary-side corporate boxes and team branding through stadium lighting.
Tenders for site preparation are to be called in the next month with work to start mid-next year. Expressions of interest for the main construction contract are expected by the end of the year with construction to start in 2014.