Victoria

Victorian Planning Minister approves five apartment projects

VICTORIAN Planning Minister Matthew Guy last week announced the fast-tracking of five major new high-density housing developments in the central city area – the largest numbers of private residential permits made on one day by the state government.

"The Australian dream of owning your own dwelling is still possible. With the release of these five towers in Melbourne, new home buyers and others can once again have confidence that the state government is aggressively tackling the housing affordability issue in outer as well as inner city markets," Mr Guy said in a statement last Tuesday.

"Demand in Melbourne's high-rise, high-density market is strong with recent surveys showing Melbourne now having more apartments being sold than Surfers Paradise. The state government is driving new jobs and investment into Melbourne with these 'Super Tuesday' permits.

"More than 2,000 new apartments, $557 million in new construction work and up to 4,000 new construction jobs will all result from this announcement."

The permit approvals include:

  • 127-141 A'Beckett Street, 632 apartments, 63 storeys, 196m high, worth $164m;
  • 464 Collins Street, 185 apartments, 55 storeys, 181m high worth $100m;
  • 398 Elizabeth Street, 466 apartments, 55 storeys, 178m high, worth $135m;
  • 420 Spencer Street, 438 apartments 38 storeys, 131m high, worth $70m; and
  • 395 Docklands Drive, 360 apartments, 18 storeys, 61m high, worth $88m.

Mr Guy said the approvals reflect the new Plan Melbourne policy in action with the delivery of an expanded CBD.

"Melburnians have made it clear that they want their suburbs protected from high-rise apartment development. To achieve this we're delivering density in defined locations like Melbourne's CBD and the Docklands – not in our quiet suburban streets," Mr Guy said.

"The state government has an unashamedly pro-Victoria and pro-Melbourne attitude to the construction sector. We are aggressively promoting central city growth. Victoria accommodates 25% of Australia's population but we are punching above our weight by accounting for more than 27% of national dwelling approvals over the last year."

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