Victoria

Victorian Government approves $100m tower for Docklands' Bolte Precinct

VICTORIAN Planning Minister Matthew Guy last week announced that a $100 million, 100-metre high apartment building has been approved for Docklands, becoming the first tower in the prime riverside Bolte Precinct.

Mr Guy said the 30-level development, which is located at 160-186 Lorimer Street and forms part of the ongoing Yarra's Edge development, will enhance the Docklands area, connecting the city's iconic river with the thriving central business district.

Designed to 4 star Green Star standards, the apartment building will feature 229 apartments, 302 car parks, 84 bicycle spaces and ground floor retail premises.

"This development reflects not only the fact that Melbourne is the best place to invest and build, it is also a centre of great architectural and urban design," Mr Guy said.

"This development delivers on Plan Melbourne, our vision for Melbourne to 2050, which supports development in the central city with access to transport, jobs and services close by.

"The Victorian Coalition Government is boosting construction activity and creating thousands of new jobs in the building industry. Building permit activity for 2014 so far is 13 per cent above the same period in 2013, up to $10.6 billion.

"Our projections show Melbourne's expanded central city is likely to become home to an additional 100,000 people by 2031. Around 60,000 new dwellings will be required to accommodate this growth, so it's important that we direct higher density to areas like Docklands while ensuring new developments cater for singles, couples and families," Mr Guy said.

Upon completion Docklands is expected to have attracted in excess of $17.5 billion in private investment and be home to an estimated 20,000 residents, 60,000 workers and millions of visitors annually. The Lorimer Street development adjoins the Lorimer Precinct of the Fishermans Bend Urban Renewal area that is expected to house more than 80,000 residents.

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