A $19 million ‘safe harbour’ on Geelong’s waterfront is a step closer after a City Hall funding commitment this week.
Councillors voted unanimously to tip $3 million into the stage-one upgrade of Royal Geelong Yacht Club facilities, including a curved 280-metre long ‘wave attenuator’ to protect berthed vessels.
The upgrade would also rebuild the club’s premises and deliver other facilities while improving public access to the site.
The yacht club estimates the project will create over 100 full-time and casual jobs, along with a similar amount during construction.
The club has equalled City Hall’s funding commitment, while State Government has backed the project but has yet to formally commit an anticipated $6 million.
The remaining $7 million would come from Federal Government, which has yet to publicly support the project. The club will apply for the money from the Government’s National Stronger Regions Fund.
The club welcomed council’s commitment this week and vowed to continue pursuing state and federal governments for the remainder of the funding.
The yacht club plans to fund a $12 million second stage of the project, with revenue from increased berthing opportunities.
Mayor Darryn Lyons said council was “pleased” to offer a contribution, noting the value of existing events in the yacht club precinct.
“The Royal Geelong Yacht Club is an iconic part of Geelong’s Waterfront that provides significant social, economic and tourism benefits to the region. We would like to see events continue to grow at the club,” Cr Lyons said.
“Annually, the Festival of Sails contributes $14.6 million into our local economy, and this long weekend the Wooden Boat Festival is also expected to draw large crowds.
“Upgrades made through the Geelong Waterfront Safe Harbour Precinct will enable better access from the street to the waterfront for the public and non-members of the yacht club.”
The funding commitment has set back the mayor’s preferred Yarra Street Pier project, which was also vying for millions of dollars in funding despite opposition from local Labor MPs. The region’s municipal alliance body, G21, has backed the pier as a “priority project”.
