Megara in Hedland property deal
Pilbara-focused property developer Megara has struck a cashless joint venture with the Town of Port Hedland to develop residential blocks in the town in exchange for providing housing for council staff.
Under the terms of the deal, Megara will sell 11 house and land packages in Catamore Court with part of the sales revenue going to build eight apartments for council staff.
Megara director Matt Pickford said 80 per cent of house and land packages had already been sold since the start of sales in October last year.
"We expect to sell all 11 lots in the next few weeks, which means we will then commence construction of the Town of Port Hedland apartment complex," he said.
Port Hedland Mayor Kelly Howlett said providing affordable staff housing was something the Town had been working towards and it was pleasing to be able to deliver a solution that benefited all parties involved.
"The project will also contribute to the normalisation of the local housing market which is one of the Town's strategic goals," she said.
Affordable housing has been an ongoing issue for Port Hedland and other towns in the Pilbara since the onset of the mining boom, with soaring property and rental prices and land supply shortages compounding the problem.
Megara also runs a construction company that will build the properties in Catamore Court.
