PLANNING Minister Matthew Guy last week approved two multi-story residential developments in Melbourne, representing an investment in the city of $330 million.
Planning permits have been granted for a $180 million residential development with two towers, one at 63-65 Kings Way and one at 127-129 Kavanagh Street, Southbank and for a $150 million two-tower multi-storey residential development at 231-245 Harbour Esplanade, Docklands.
The Southbank development will contain 760 apartments. It features a 47 level (143 metre) tower fronting Kings Way and a 38 level (115 metre) tower on Kavanagh Street. The towers will share a 23 metre podium with a retail focus addressing Kavanagh Street.
The Docklands development will contain 517 apartments. It comprises a 27 storey (89 metre) tower and a 32 storey (104 metre) tower.
"These developments will stimulate continued residential growth in Southbank and the Docklands and are in keeping with state and local planning policy as areas that are able to accommodate population growth," Mr Guy said.
"The Southbank buildings respond to the landmark location at the corner of the West Gate Freeway and Kings Way.
"These approvals continue to address the housing shortage in Melbourne and will help to accommodate the thousands of people who move to Melbourne each year," Mr Guy said.
Mr Guy commended the strong relationship between Melbourne City Council and the Victorian Coalition Government, as demonstrated by the constructive way they have worked together on processing these applications.