This article is from the Australian Property Journal archive
THE Victorian government has given Lendlease the green light to develop the $1 billion 1,690 units Melbourne Quarter project, designed by acclaimed architects Fender Katsalidis.
The residential approval comes after Lendlease was given the go ahead in March this year for a 19-level commercial tower of more than 30,000 sqm of office space, 177 car spaces and 210 bike spaces, designed by Denton Corker Marshall. The approval also includes a 2,000 sqm elevated park to be built over part of Wurundjeri Way and Collins St, which is expected to be complete in 2018.
Lendlease’s Melbourne Quarter includes three residential towers comprising 1,680 homes valued at $1 billion, which will be home to 3,000 residents.
The precinct has a strong environmental focus, with more than half of the 2.5 hectare site dedicated to open public spaces including Melbourne’s first elevated Skypark, a neighbourhood park, a new public square and a series of retail laneways which connect to the greater CBD area.
In addition, residents will have access to the club, a three storey resort-style facility including a 25 metre swimming pool, spa, steam room, sauna, state of the art gym and yoga rooms, theatrette, private dining spaces and resident’s library and lounge.
The first residential building, East Tower, located at 628 Flinders St, is a 40-level development that will comprise a mix of one, two and three bedroom apartments.
Lendlease’s managing director for urban regeneration, Mark Menhinnitt, said Melbourne Quarter had already become one of Melbourne’s most anticipated residential addresses.
“Melbourne Quarter, with its residential neighbourhood next to a thriving commercial district, offers the opportunity to live next to work, which is increasingly appealing for young professional owner occupiers and investors with a keen eye on the leasing market.
“We are already receiving strong market interest for Melbourne Quarter’s East Tower,” he added.
Menhinnitt said the $2 billion Melbourne Quarter is anticipated to generate approximately 15,000 construction jobs over the life of the project. On completion, its commercial offices are expected to be home to around 10,000 workers.
Victorian Minister for Planning Richard Wynne said the $490 million three-tower development is in keeping with the government’s push for quality development and for more homes to be built to keep pace with Victoria’s growing population.
At the same time, Wynne has also approved a 60-hectare expansion plan for the Casey town centre, between Cranbourne and Fountain Gate, Narre Warren.
Once built, the site will accommodate more than 4100 jobs in office and commercial buildings and be home to about 4200 people in 2000 homes.
Australian Property Journal
