This article is from the Australian Property Journal archive
MOHAN Du’s Capital Alliance and Development Victoria have been given the greenlight for their $2 billion master plan for the Revitalisation of Central Dandenong (RCD), which envisions Central Dandenong as Victoria’s second capital city.
The master plan will see Central Dandenong transformed into an urban hub that will inject more than $572 million in net economic benefits to Victoria, while also tackling both socio-economic and housing challenges in the area.
The plan was developed in consultation with a panel of experts and will also create a commercial and industrial hub.
“This approval is a pivotal moment, which wasn’t without challenges in itself” said Mohan Du, founder and managing director at Capital Alliance.
The residential component will comprise around 37,000sqm for more than 480 new homes including 10% affordable housing, with retail spanning around 12,000sqm including large format and speciality shop front activation and commercial, healthcare, aged care and knowledge precincts spanning more than 117,000sqm.
While a hotel component will comprise around 11,000sqm and education facilities will span 4,000sqm and include a new state of the art educational institution.
“Our vision from inception has not changed, it is to create a vibrant and inclusive community in Central Dandenong; one that will not only serve as a new commercial and residential hub but also reflect the diverse cultures that make this area unique,” added Du.
“Over time, we will create a true 18-hour city, supporting activity and engagement day and night. Dandenong will undeniably become Victoria’s second capital city.”
“The Revitalisation of Central Dandenong is a cornerstone project for the City of Greater Dandenong. It will not only enhance the area’s urban landscape but also provide critical infrastructure and housing solutions for the community,” Jacqui Weatherill, CEO of City of Greater Dandenong,
“We are pleased to support Capital Alliance to deliver a project that addresses pressing social and economic challenges while creating new opportunities for growth and development in this vital part of Melbourne.”
The Master Plan will also integrate environmentally sustainable features and target a 5-star Green Star Communities Rating Certification, with water capture, extensive urban greening, and increased canopy cover to create a climate-resilient, liveable environment.
With the development to inject over $600 million in private investment and contribute an estimated $1.5 billion once operational per annum.
Capital Alliance will fast-track the delivery of the first two stages, with works set to commence in late 2025 and construction to kick off in 2026.
