Business investment in the Territory has crashed by 45.6 per cent.

Year-on-year data released for 2018 shows Territory State Final Demand fell by 12.5 per cent to $26.9 billion with private sector investment falling by a staggering 41.8 per cent to $5.9 billion.

The Economic Recovery Summit, pulled together by the Chamber of Commerce NT, the Master Builders Association, the Minerals Council, The Darwin Major Business group and the Cattlemen’s Association, delivered a frank and at times brutal assessment of the Government’s performance, business-impeding reforms and its bureaucracy.

It made it clear the NT Government needed to hear that business was concerned, that things could be done better. There were a number of key messages put to the Government. Among the most important was having a policy and project regulatory environment which encourages investment.

For his part Chief Minister Michael Gunner pledged to embark on making it easy for business to do business. Red tape, green tape and now even beige tape are the focus of what stands in the way of a re-energised Territory economy.

Cast your eye around the Darwin CBD and there is good reason to hold on to the hope of a return to the good times when the vive in Darwin was upbeat, vibrant and exciting.

There are those among us who still want to be very much a part of our growth and future.

Just this week there was renewed talk of the site of the old Asti Motel in Smith Street becoming a multimillion-dollar three tower residential development.

Northern Planning Consultants have applied for an application to build 140 apartments, comprising one-bedroom, two-bedroom and three-bedroom dwellings with the tallest tower to reach 13 stories and to include a three-level basement carpark. Needless to say this will support hundreds of jobs in construction stage if it goes ahead.

So too will the $75 million new NT Government Health headquarters about to begin construction on the corner of Knuckey and Cavenagh Streets.

This project is expected to create more than 250 jobs construction jobs with a focus on awarding contracts to locals.

After demolishing the old Cavenagh House building, Sandran Property Group is preparing for the next major stage to construct the nine-storey office tower, Manunda Place.

High Rise Crane and Rigging Services managing director Adam Hay says he is pleased Hutchinson Builders and Sandran chose a Territory crane company to work on the Manunda Place project.

“It is good to see Hutchinson and Sandran hiring local companies. The construction industry is the quietest I have ever seen and this will be the first tower crane we have erected in Darwin in two years,” Mr Hay said.

Sandran managing director Will Phillips says the trickledown effect of this boost to local employment is being generated in supporting industries such as hospitality, supplies, design, transport and government approval agencies, which could be more than four times the value of the local jobs.

Infrastructure, Planning and Logistics Minister Eva Lawler is the Minister who must walk the tight rope between conquering the business concerns of red tape and turbocharging the city’s reinvigoration.

She points to a long and rich list of CBD projects in the development pipeline that will achieve reinvigoration.

Rightly at the top of the list is the Masterplan for Civic and State Square Precinct, awarded to Taylor Cullity Lethlean Limited, in partnership with local award winning firm, Troppo Architects, Hully Liveris Design Com Pty Ltd, and Irwin Consult Engineering Consultants.

The Masterplan maps out areas for revitalisation, investment and upgrades. The goal is to “establish a thriving, beating heart in the CBD through greater connectivity”.

It includes a city art gallery and the demolition of the Chan Building to create more green space and connectivity throughout State Square.

“The Territory Labor Government is revitalising Darwin’s CBD through transformative projects that will position Darwin as a cool, modern, tropical destination that will attract more people and create jobs,” Ms Lawler says.

PTN Group’s Cavenagh Street redevelopment is an example of that.

The $2.7 million construction of stage 1 of the project, a 55-metre cool shade structure, is complete.

The $1.37 million stage 2 is now underway which includes the planting of 29 new trees and heat reflective road surface treatments to reduce pavement surface temperatures.

Nearby the Austin Lane Streetscape Project is also helping to transform the Darwin CBD into a more pedestrian-friendly space. It too is focusing on creating cooling spaces between buildings.

The redevelopment vision is to enhance Smith Street Mall, Raintree Park and Knuckey St by creating “inviting and engaging experiences” for visitors and locals moving through Austin Ln to these destinations.

The work will focus on the walkways between Cavenagh St and The Mall and will include new tree plantings, two new covered walkways to cool the area, while also installing seating and upgraded curbing to make it more pedestrian-friendly.

And it is not just Government that has enthusiasm for this precinct.

The top level of the old Woolies building on Knuckey St is set to be transformed into Darwin’s first gin distillery.

The venue will be called Charlie’s of Darwin.

The gin distillery will be on display for patrons and a rooftop bar overlooking Knuckey St and Raintree Park will make the most of Darwin’s dry season weather.

The design features two bars with plenty of seating to lounge in and admire the hanging garden.

The brains behind the plan, Rebecca Bullen, also runs the successful Stone House Wine Bar and Kitchen on Cavenagh St.

The development, which is due to open at the end of the Dry, will add to the now happening space in the Austin Ln and Knuckey St area.

Ms Bullen says her desire to invest in the space was to provide the “missing jigsaw” in the city’s night-life.

“Darwin is home to me and at the moment this is a missing part of the jigsaw in Darwin’s night-life and I believe the space I’ve chosen will add vibrancy in the city,” she said.

The CBD’s food court scene could also be in for a makeover with a new food and dining hub on Knuckey St.

Preliminary plans for the development at 18-20 Knuckey St on the corner of Austin Ln depict a two floor precinct including a ground floor cafe and a level one food court.

The striking level one design shows plans for a large alfresco dining deck and indoor dining, serviced by potentially eight different food operators.

After seeing shops close all around him, Gary Strachan, the owner of the Knuckey St barber shop Hair Dude, has undertaken wholesale renovations to play his part in revitalising the CBD.

“With all the shops closing down and so many businesses going under, I thought: I don’t want to be one of those people,” said Mr Strachan, who moved to Darwin in 1979.

“So what I did was I started renovating and actually turning it around and going the other way — investing, rather than trying to do the same thing we’ve done for the last 15-years.” Mr Strachan has since turned what was a typical barber shop into an entertainment zone, with a bar, seating area, TVs, iPads and a PlayStation.

“It’s not all doom and gloom here. It’s still a great place to live and work.” he said. “The more we talk about positive change, people’s attitudes will change and Darwin will get back to how it was.”

“These projects are a step in the right direction to deliver a cooler city centre, attracting visitors and boosting the local economy,” Ms Lawler says.

“We have listened to the community and to small businesses. The $200 million towards CBD transformation projects that will ensure Darwin is a thriving, cool capital city, a destination to visit and a place to call home.”

One of the hidden pieces of this will be the $20 million State Square Underground Carpark awarded to the Tomazos building and civil construction group.

The 450-space underground car park began construction last August and is supporting 165 jobs.

Of course not far from the State Square precinct will be the $200 million luxury Westin Darwin Hotel, which will bring thousands of new tourists to our city and deliver a new standard of luxury accommodation.

Marriott International’s Development Australia, New Zealand and the Pacific senior director Richard Crawford said the full arm of the Marriott International network would be used to put Darwin on the international destination map.

“We’ll have 232 rooms and if you look at 75 per cent occupancy that’s probably 70,000 room nights, which extrapolates to 100,000 people if you take 1.5 people per room,” he said. “They’ll spend $25 million at the hotel and double that to get here and elsewhere.

“Darwin Westin will be a part of the biggest hotel company in the world … It will be part of a very awesome machine. We are opening a hotel every 14 hours for the next three years somewhere in the world so Westin Darwin will bring a number of different layers of opportunity for the city.

“The arrival of Marriott International in Darwin means you have global marketing machine Darwin is plugged into. Our tentacles reach out far and wide This means a multitude of people are seeing Darwin flagged along with Times Square, Jakarta, the Gold Coast and global cities.”

The luxury Westin is expected to be completed in two years. It is one of two luxury hotels planned for Darwin with the Development Consent Authority approving a proposed 38-storey luxury hotel and apartment complex in the Darwin CBD opposite the Darwin Entertainment Centre.

Not far from the $200 million Westin is the proposed multimillion-dollar Darwin International Water Theme Park. The new development on the Stokes Hill Waterfront will value add to the existing waterfront precinct. An international standard Water Theme Park was identified through the Economic Summits as a key enabler for investment and development.

On the edge of the waterfront precinct is the most bold of all the Darwin CBD redevelopment proposals.

It may never happen but its proponents at least have vision — nine new apartment towers with the capacity to deliver about 1350-1800 apartments and more than 5000 people to the Darwin CBD.

The owners of vacant land overlooking Darwin Harbour, Frances Bay and the Waterfront have put their Harbourside Precinct development concept out to the international and national markets.

And while its proponents say it does not expect a Darwin developer to build it, there has been some very early interest from outside the Northern Territory.

The Harbourside Precinct development land is at the corner of McMinn St and Frances Bay Dr, and is a minute or two from the Darwin Central Business District and the Darwin Waterfront.

The concept masterplan allows for a mix of residential apartments, commercial space, serviced apartments and hotels with the potential to create a high level of street interaction through cafes and shops.

So in the words of Knuckey St businessman Gary Strachan: “It’s not all doom and gloom here.”