Planning Minister Matthew Guy has approved the development of one thousand apartments in central Melbourne, providing a boost to the high rise residential construction sector in Victoria.
According to Mr Guy, these central city apartments are vital to meeting the residential needs of Victoria’s growing population.
Whether planning for land supply in suburban growth areas, urban renewal precincts or central city high rise apartments, more homes will need to be built to keep the market affordable. Mr Guy added these steps were necessary for Victoria to avoid a housing shortage like the one in Sydney.
The projects in Footscray and Southbank are located in the expanded Central City area, slated for major population growth under the new metropolitan strategy, Plan Melbourne.
The project at 2 Hopkins St, Footscray is located in the Joseph Road Precinct, rezoned for high density development in 2009. It will include 751 apartments in four buildings ranging in height from 16 storeys to 28 storeys, and will have ground floor retail uses as well as open space landscaping.
The project at 57 Haig St, Southbank will be 38 storeys (122 metres) tall and will include 249 apartments. It is located 100 metres from the Clarendon Street tram and just 700 metres from the planned Fishermans Bend (Montague) railway station at the junction of Montague St and the Route 109 tram line.
The combined value of the two projects is $270 million and they will generate around 1,890 construction jobs.