Green light for Edgewater development
Bulldogs President Peter Gordon has announced the Club's Edgewater development has received the green light to proceed.
“I am delighted to be able to report the green-lighting of the Club’s Edgewater development,” Gordon said today.
“After some prolonged delays to the project, all obstacles have now been resolved and construction is proceeding full-steam ahead.
“In collaboration with the developer Prizac, we hope that the complex will be completed and ready to provide a new social club facility for our Members for the start of the 2015 AFL season.
“The $30 million project is the biggest commercial venture in the history of the Club.
“Given the complexity of the project and the original agreement – the Club has faced a myriad of planning, legal, financial and securitising issues over the past two years. Much of the detail of these issues remains subject to an enduring obligation of confidentiality on the part of the Club as a consequence of an agreement made by the Club in June 2011.
“At the end of 2012, Edgewater was marooned in a position in which considerable risks were involved both in proceeding and not proceeding.
And while I am frustrated that we are legally bound not to go into some of the detail, we have this year substantially ‘de-risked’ the construction phase of the project for the Club and I regard this as one of the more important achievements of the Club in the last 10 years.
It has involved a significant deployment of the time of Board and senior management.
“Like any large start-up venture, the project still carries on-going risks for our Club, however the Board of the Club, and Simon Garlick and I are satisfied that the arrangements we have now come to are the best of the options which have been available to the Club in 2013 and we are looking forward to the completion of this important project.
“Of course, if Edgewater operates as we hope and expect it will, it will not only provide a new and valuable social club facility, but will also provide an important addition to the Club’s recurrent revenues.
“I want to acknowledge the hard work and commitment of our Chief Executive Simon Garlick since he assumed responsibility for this project in late 2010.
“And finally, I also want to express the Club’s thanks to AFL Chief Executive Andrew Demetriou and AFL Deputy Chief Executive, Gillon McLachlan for their advice and support at critical stages of the project this year.
“The new Edgewater complex and social club will have a state-of-the-art restaurant, Members’ Bar, function rooms, gaming lounge and accommodation – Edgewater will be a contemporary and vibrant hub for our Members to come together to experience top-notch cuisine, entertainment and revel over the triumphs and tragedies of our AFL and VFL teams.
“Thanks also to our Members for their support in relation to this matter,” Gordon said.