In the 2000s the East Perth Redevelopment Authority developed a draft master plan for the site's future use, which went out to the public during a three-month community consultation period (7 November 2004 – 28 February 2005). Site works commenced in July 2004 and included a general clean up, building stabilisation and weather proofing. This site was chosen ahead of the other suggested site at the Power Station, which was instead to house a new $500 million
museum. Planning and design of the new museum was to begin in 2008, with construction expected to begin in 2012. The extensive fit-out required for the museum was scheduled to start in 2013, with completion of the entire project expected in late 2015. The redevelopment was to have been overseen by the Government's Office of Strategic Projects. In February 2015, the site was subdivided into four lots for sale to developers. The first lot offered for sale includes the power station building, which the purchaser would be required to preserve and redevelop. In 2020,
Minderoo Group and
Australian Capital Equity were nominated as preferred developers, but both companies withdrew from the joint venture in February 2023. The exclusive rights expired in March 2023 and were not renewed due to "insufficient progress" on the project. In late 2024, it was announced that the power station would be used as an entertainment precinct for the
Perth Festival over the coming four years. The first event was held in 2025, marking the first time the site was open to the general public in over four decades, and featured purpose-built stages for live music featuring international acts, artworks by local First Nations artists, food vendors, and more. ==References==