The Victorian Coalition Government has approved the Fender Katsalidis designed Australia 108 tower which will be Melbourne's tallest mixed-use tower.
Standing at 108 storeys and 388 metres tall, Australia 108 will be 91 metres taller than the Eureka Tower, also designed by Fender Katsalidis, and will become the world's 19th tallest building on completion.
After accounting for all issues raised by the City of Melbourne's recommended permit conditions and receiving endorsement from the Shrine of Remembrance trustees, Planning Minister Matthew Guy said the project was fit for approval.
"This tower signifies the best of Victorian architecture and a drive for enterprise and ingenuity that exists nowhere else in Australia.
Nonda Katsalidis, developer and co-designer of the tower with his partner, Karl Fender said:
“We are delighted to have our planning approval finalised, and the ability to forge full steam ahead with the project. This includes finalising apartment designs and advancing negotiations with hotel operators.”
Australia 108 will feature 646 apartments, a 288-room 6 star hotel as well as retail and office space.
“Australia 108 has the ability to define Melbourne, and signify our coming of age as a dynamic and progressive international city. Nothing like this exists in our part of the world – a prestigious residential tower with a six level, luxury hotel offering a wide range of services and facilities such as bars, observation lounges and restaurants," Katsalides said.
“Many of the hotel facilities, as well as The Star Bar suspended between pillars near the pinnacle on level 108, will be accessible to all Melburnians and visitors, not only Australia 108 residents. This was a key consideration for us in creating this project,” Katsalidis added.
Katsalidis' construction company will use a technology that the company has created to make prefabricated structural sections which will allow for timely construction.
The entire project is a $600 million investment into the Victorian economy and is expected to create 300 jobs in the construction and hospitality industries.
Guy said that the building will be as iconic as Flinders Streeet Station and Federation Square and would help concentrate high density living in Melbourne's CBD.
"The Australia 108 mixed-use tower will be an icon both visually and for those who will live in it, stay at its hotel, dine at the level 84 Sky Lounge or visit the level 108 Star Bar," Guy said.
"Towers such as Australia 108 are consistent with the Coalition Government's drive to concentrate high-density development in defined areas and out of existing, quiet neighbourhoods," Guy said.
"Every apartment in this tower is one less apartment in an existing quiet neighbourhood."