480 Melbourne Apartments

Market Insights
8 years ago
2 minutes

Planning Minister Richard Wynne has given the green light to another three apartment projects, equating to almost 480 new apartments around inner Melbourne.

The mix of one, two and three-bedroom apartments are in projects around the growing areas of Fishermans Bend, the CBD and Footscray.

The heights had been reduced across the three projects in keeping with the planning controls for each site, allowing for much-needed accommodation near the city without overwhelming streetscapes.

In Port Melbourne, a 98-apartment project with space for cafés, restaurants and offices has been approved for Ferrars Street, adding to the revitalisation of the Fishermans Bend precinct.

The $30 million project was reduced from 25 to 20 storeys, minimising overshadowing.

Detailed planning for Fishermans Bend is underway, including designs for the proposed Ferrars Street school.

In Footscray, a $35 million development has been approved in Buckley Street. The 150-apartment project includes two towers, 10 and 12 storeys, reduced from the proposed 16 storeys in keeping with surrounding height limits.

Minister For Planning, Richard Wynne, knows that Melbourne offers so much for both investors and owner occupiers.

“The inner city offers opportunities for investors, renters and homeowners. Footscray, Fishermans Bend and the CBD all form part of our aim to accommodate more people near infrastructure and jobs.

“The Andrews Labor Government is encouraging development in the right locations and apartments which offer plenty of light and ventilation.”

“By keeping height limits in check, we can enhance the inner suburbs and draw in new residents without overshadowing or spoiling the streetscape.” 

The project will replace a single-level commercial building, reflecting the long-term goal for this part of Footscray to be developed into a thriving activity centre.

In the CBD, Grocon has redesigned their plans for 85 Spring Street in the city, reducing their original proposal from 44 to 39 levels.

Mr Wynne said the negotiated changes reflected the significance of the site’s location on Spring Street, and would reduce overshadowing around Parliament and the Old Treasury Building.

The three projects are in addition to the 16 developments Mr Wynne has approved in the past six months.

With Victoria now the fastest-growing state in the country, Mr Wynne said planning and housing policies to manage growth would be vital to Melbourne’s long-term liveability.