WALKER Corp will no longer develop Weinam Creek into a residential and transport hub, with council instead taking on planning for the area.
The announcement that the public-private partnership for the Redland Bay ferry terminal development was over was made by council on Friday.
The Weinam Creek redevelopment was a state government declared priority development area covering 42 hectares. PDAs are parcels of land identified for accelerated development, with a focus on economic growth.
Council had aimed to develop a public-private partnership to upgrade the ferry terminal at no cost to ratepayers.
On Friday, Mayor Karen Williams said the decision not to proceed was due to lack of public infrastructure in the proposal.
“There were challenges with the lack of commercial development opportunities available to fund the public infrastructure outcomes council and the state are requiring,” she said.
“Council is committed to the rejuvenation of the area and is instead working on a plan that provides the community infrastructure the area needs and demands.”
In September a revised plan submitted by Walker Corp for the development included units, commuter parking and foreshore work.
Parking has long been a major political issue for council at Weinam Creek, with island residents pressuring council about insufficient parks and a lack of security.
It appeared the PPP was doomed to failure in December when council bought 4.5 hectares of farmland at the creek for ferry terminal parking for $3.2 million.
Cr Williams said at the time the farm on the southern side of Weinam Creek was suitable for car parking.
On Friday, Walker Corp Queensland development general manager Peter Saba said the company had worked hard with Economic Development Queensland and council to find a mutually acceptable development proposal for the PDA but the parties had agreed this was not possible.
“Walker will concentrate its efforts on the Toondah Harbour development which will provide the Redlands community with a fabulous new bayside destination,” he said.
