This article is from the Australian Property Journal archive
THE Victorian government has moved forward with its ambition of transforming nearly four hectares of inner-city Melbourne land into more than 1,000 homes, a school, and sports centre, announcing the consortium that will deliver the first stages of the project.
Inner North Collective Joint Venture, comprised of Assemble, Milieu and Hickory, with capital partners AustralianSuper and HESTA, will deliver 820 homes on Parcels B and C at the former Fitzroy Gasworks site.
The parcels make up 70% of the planned homes across the precinct and will include 168 affordable homes as part of the 20% affordable housing requirement on the site.
Assemble will deliver around 400 build-to-rent homes in Parcel B, of which approximately 80 will be operated by a community housing provider. Assemble has been backed by AustralianSuper and partnered with HESTA in recent years and has a number of build-to-rent and alternative housing projects in Melbourne.
Community housing providers provide homes for those most in need, including a percentage of social housing. They are not-for-profit organisations who own and maintain rental housing for people on very low, low and moderate incomes who require social and affordable homes.
Milieu will deliver around 420 homes on Parcel C, including delivering an allocation of homes under license in partnership with acclaimed developer Nightingale, and specialist disability accommodation.
Both builds will feature communal facilities including a café, meeting and events spaces, rooftop gardens, BBQs and laundry facilities.
There will be bike parks for every apartment, and the homes will be built to a minimum 5-star Green Star rating.
The government recently completed the Bundha Sports Centre at the site, which has four courts for basketball, netball and volleyball, a dedicated futsal court, gym, café and lounge area, community facilities and change rooms.
A long-term operator will be appointed in 2025.
The government has already delivered the Wurun Senior Campus, which opened to students in early 2022.
“We’re transforming a site that was vacant for decades – we decontaminated it, built a new school and sports centre and now we’ll build hundreds of homes right where they’re needed,” Victorian Premier Jacinta Allan said.
Housing announcements charge
Confirmation of the joint venture follows a string of announcements by the government aimed at defining itself on housing policy. They have included unlocking supply around train stations and tram routes, the release and rezone of surplus state-owned land near trains that will unlock around 9,000 homes across Melbourne and the regions, greenfield land releases that could deliver 180,000 homes, new stamp duty concessions, and a suite of reforms to give more power to renters.
The government also just given the green light for a $150 million mixed-use development in the south-east suburb of Glen Iris, by Time & Place in partnership with supermarket giant Woolworths. The project will have 60 apartments, including affordable homes, with a full-line Woolworths supermarket on the ground floor.
It is the latest project to be given the go-ahead though the Victorian government’s Development Facilitation Program. The accelerated assessment pathway includes a 10% affordable housing requirement for residential projects.
