This article is from the Australian Property Journal archive
THE Victorian government has approved a new $100 million residential tower at Yarra's Edge in Docklands.
The 100-metre high apartment building is the first tower in the prime riverside Bolte Precinct.
Planning minister Matthew Guy said the development will connect the Yarra River with the CBD.
The 30-level tower at 160-186 Lorimer St and is designed to 4 star Green Star standard and will comprise 229 apartments, 302 car park bays, 84 bicycle spaces and ground floor retail.
“This development delivers on Plan Melbourne, our vision for Melbourne to 2050, which supports development in the central city with access to transport, jobs and services close by,” he said.
“Our projections show Melbourne’s expanded central city is likely to become home to an additional 100,000 people by 2031. Around 60,000 new dwellings will be required to accommodate this growth, so it’s important that we direct higher density to areas like Docklands while ensuring new developments cater for singles, couples and families,” Guy continued.
Upon completion Docklands is expected to have attracted in excess of $17.5 billion in private investment and be home to an estimated 20,000 residents and 60,000 workers and millions of visitors annually.
The Lorimer Street development adjoins the Lorimer Precinct of the Fishermans Bend Urban Renewal area and expected to house more than 80,000 residents.
Property Review
