MELBOURNE City Council plans to make almost $1.4 million by selling CBD laneways. The Age reports that the council will sell the laneways to make way for the the new Emporium Melbourne shopping centre development. This comes days after the controversial refusal to protect the historic art deco Lonsdale House building on the site.
According to The Age newspaper, documents reveal that the council plans to make $616,000 selling part of Lynch Place, $686,000 from Arcade Alley, $148,000 selling a section of the air space of Little Bourke Street and $6000 from basement area, and $21,000 for air space above Caledonian Lane.
The Emporium Melbourne development, including 240 new shops and a makeover of Myer's CBD store, is due to be completed before Christmas 2012.