This article is from the Australian Property Journal archive
PLENARY has been announced as La Trobe University’s preferred partner to realise the $5 billion transformation of its Bundoora campus into a thriving city in Melbourne’s north.
The public infrastructure investor, developer and manager will as the university’s preferred master development partner accelerate La Trobe’s University City of the Future Plan for the 235-hectare Bundoora campus, located around 16km north-east of the CBD.
“Plenary is a highly reputable global company that is aligned with the University on environmental sustainability, and providing long-term social and economic benefit to communities,” said John Dewar, vice-chancellor at La Trobe University.
The University City of the Future Plan would see the development of a Research and Innovation Precinct, sporting and sports research facilities, a health and wellbeing hub and new commercial, retail and residential developments.
“Our main goal is to develop a multi-purpose, sustainable and mixed-use community – and position La Trobe as a pioneering and transformative University, and the partner of choice for industry and academia,” said Mary Lacson, director of property and economic development at La Trobe.
Sporting facilities at the campus will include a world class sports park, that will be open for teaching, research, community participation and elite sport, with Australian women’s national soccer team, the Matildas to back their home at the park.
While residential offerings will include the new sustainable 624-bed North and South Apartments for student accommodation.
“This project will redefine how university precincts in Australia and abroad are designed, developed and delivered,” said David Lamming, chief executive at Plenary.
The plan also includes a commitment to protect and enhance the biodiverse waterway on site, the Nangak Tamboree.
“It will help to cement La Trobe as a global University of choice for students and staff, increase engagement with government, industry and the community, and showcase it as a sustainability exemplar,” added Lamming.
The University City of the Future is set to provide education facilities for more 40,000 students, in addition to generating 20,000 new jobs each year, in addition to 3,000 construction jobs per annum.
Over 10 years, it is estimated that the city will stimulate significant economic growth in Melbourne’s north, adding $3.5 billion in GDP.
The appointment of Plenary, follows the group’s successful stint as La Trobe’s development partner for the $288 million AgriBio Project in 2013.
“Our experience in the formation of long-term partnerships to deliver complex projects here and overseas make us ideally placed to perform the role of development partner, and we look forward to delivering on the exciting vision for the University City of the Future,” concluded Lamming.
