Lendlease has confirmed it has received approval from the Victorian Department of Transport and Planning to transform the Queen Victoria Market site in Melbourne’s CBD in what will be the city’s largest-ever urban renewal project, titled Gurrowa Place.

Queen Victoria Market has been developed in consultation with an architecture superteam that comprises NH Architecture, Kerstin Thompson Architects, 3XN Australia, Searle x Waldron Architecture, Openwork and McGregor Coxall.

Gurrowa Place will comprise a 28-level commercial building, a 560-residence tower featuring build-to-rent and affordable housing dwellings and an 1,100-bed student accommodation building, all located within a 3.2 hectare site which fronts Franklin, Queen and Peel Streets.

“The $1.7b Gurrowa Place project represents an enormous opportunity to revitalise one of Melbourne’s most-loved precincts with new public space, retail, office and housing,” says Tony Lombardo, Global CEO, Lendlease.

“With construction expected to commence in the coming months, we’ve commenced discussions with capital partners interested in working alongside Lendlease and our stakeholders to bring the project to life on behalf of Melburnians.”

The second portion of the precinct includes a 1.8-hectare public park, to be known as Market Square. The retail tenancies that front Franklin Street that will be restored and form a new retail village, with a 220-space basement carpark to be created to mitigate on-street parking. A new civic pavilion, dubbed the Queen’s Corner Building, is touted as the precinct’s future cornerstone.

Lendlease has worked in close collaboration with the local Wurundjeri peoples, which has resulted in the reintroduction of native plants that were removed when Melbourne was first developed. Sustainably speaking, the entire precinct will be electrically powered, with carbon neutrality a common goal amongst built environment professionals, developers and Council.

More than $14 million in direct social investment is expected to be generated through the renewal of the area, while $1 billion is anticipated to be injected into the economy once the project reaches completion.

“Gurrowa Place will become home to thousands of new residents, attract more market customers and boost business for traders – while unlocking one of the largest open spaces in the CBD,” says Melbourne Lord Mayor Sally Capp.

“We’re one step closer to starting work to enhance the traditional market experience Melburnians and visitors know and love.”

Lendlease says it has received planning permits for early works, with construction due to commence in 2028. 4,000 jobs will be created throughout the project’s construction and lifetime.

Image: Supplied

Jarrod Reedie

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