This article is from the Australian Property Journal archive
LORENZ Grollo's Equiset Group has been awarded the development rights for a $1 billion urban renewal project in Coburg in Melbourne's north.
Equiset beat finalist Lend Lease to score its largest project to date.
Dubbed the Coburg Initiative by the Moreland City Council, the project will be one of Australia’s largest ever urban renewal projects.
The Coburg Initiative covers a 12ha area at the crossroads of Sydney Road and Bell Street, about 8kms north of Melbourne’s CBD.
Equiset’s managing director Lorenz Grollo said the Coburg community has placed enormous trust in the group to deliver for the people a physical environment at the heart of the community.
He said the Equiset proposal has at its core two fundamental principles, recognition of the importance of public space and genuine open partnerships with the Moreland Council and the people of Coburg.
Equiset will work with the Coburg Initiative team over the next six months to develop a master plan, a schedule of potential projects and a program of implementation to present to Moreland Council early in 2009.
The master plan is expected to contain as many as 1,500 apartments and some 65,000 sqm of commercial and retail space.
Equiset is led by Lorenz Grollo, cousin of Daniel Grollo who heads Grocon.
Last month, Equiset entered into a development agreement with VicUrban to redevelop the heritage-listed 1889 No.2 Railway Goods Shed – between Bourke and Collins Streets, opposite Telstra Dome in Melbourne’s Docklands precinct.
The $60 million project to be known as Goods Shed North will become only one of two buildings in Australia – the other being Sydney’s heritage-listed 88 George St building to have a 5 star Green Star rating.
Other major Equiset projects include the $100 million National Foods HQ in Docklands, $45 million refurbishment of the Intercontinental Hotel at the Rialto on Collins Street.
Next year Equiset is scheduled to begin construction of the $300 million Monash Village project at the Monash University campus, Caulfield.
Australian Property Journal
