This article is from the Australian Property Journal archive
VICTORIAN Planning Minister Richard Wynne has approved $1 billion worth of shovel ready developments including a $250 million commercial hub at Toorak village and 14-storey residential tower in Geelong.
The new planning permits worth $933 million include:
- $250 million 8-storey commercial hub at Toorak village with a ground floor supermarket and retail precinct
- $206 million 3-tower development at 2-28 Montague and 80 Munro St South Melbourne
- $100 million 36-storey mixed-use development at 203-205 Normanby Road Southbank
- Two 12-storey apartment buildings at McCrae St Dandenong valued at $70 million
- A new aged care facility on Greville St Prahran worth $60.5 million
- A 75-megawatt solar farm in Toongabbie in the Latrobe Valley worth $110 million
- A 20-storey commercial and retail development at 118 Bertie St, Port Melbourne at $66 million
- 14-storey residential building with 63 dwellings at 1-3 Hays Place, Geelong valued at $17 million
- $49.5 million 12-storey development including a hotel, gym, and offices at 81-89 Rupert St, Collingwood
- $4.67 million Social Housing development at Wilma Ave Dandenong.
More than $100 million worth of amended planning permits which are required for significant changes to a development have also been approved.
The latest round of approvals takes the total number of planning permits to 135 since March this year, with a combined development value of more than $7 billion.
These approvals are aimed at supporting a construction led economic recovery in Victoria. In less than a fortnight the construction industry will be able to ramp up activity when stage four restrictions are wound back.
“Victoria’s building and development sector is a key driver of our economy and these projects signal our commitment to give this industry the support it needs to make it through to the other side of the pandemic,” Treasurer Tim Pallas said.
“It’s more important than ever we continue adding to our pipeline of shovel ready projects to create jobs and stimulate the economy as we get to the other side of this second wave,” Wynne added.
At the same time, Wynne has also called in an application for a Lilydale retirement village and an application for 14 new cabins as part of the White Horse Village development at Mount Buller Alpine Resort.
The Building Victoria’s Recovery Taskforce will continue to review and assess priority projects for at least the next 12 months.
