Permit approved for $500 million island site in South Melbourne

South Melbourne is set to receive a large-scale mixed-use development which features 243 residences and boasts a village-style look and feel which integrates dining options, amenities and retail. 

This $500 million project is going to be brought to life in late 2025 by Time & Place, a renowned property developer with a diverse portfolio which expands nationally. Time & Place spent 18 months acquiring the five sites bordering Dorcas Street, Wells Street, and Middleton Lane in South Melbourne to create a singular 2,398sqm development site, one of Melbourne’s largest island sites. 

The project was approved by Planning Minister Sonya Kilkenny via the Victorian Governments Development Facilitation Program (DFP) pathway which seeks to provide a more timely process for granting permits to expedite much-needed housing in Victoria.

By providing reduced approval timeframes and greater project certainty, the DFP pathway has enabled Time & Place to confidently advance projects that meet community needs in a timely and efficient manner, strengthening project Viability. 

“This accelerated approval process is enabling us to better deliver thoughtfully designed places while supporting local economic growth and job creation. We commend the Minister and the Victorian Government for their leadership and commitment to facilitating impactful developments that benefit the community and economy,” said Tim Price, founder and director of Time & Place.

Designed by the renowned Bates Smart studio, the distinctive project is designed to feature two boutique sculptural towers connected via a central garden bridge, an architectural standout from the typical landscape synonymous with the area.

The towers are conceived as a pair of elegant forms that rest on a refined garden podium, celebrating the Parkside address and surrounding Domain precinct. The façade’s articulation, of the overall sculptural design, is an exercise of maximising quality of light, views and experience for the apartments.

“Melbourne’s great parks and gardens are much loved for the experience of natural beauty, lifestyle amenity and desirability of living on their perimeter. We have embraced the experience of living on the gardens as the inspiration for a contemporary architecture that respects the quality of this special setting,” said Cian Davis, director of Bates Smart.

The façade design, with generous floor to ceiling glazing, strategically frames direct and peripheral views of the Botanic Garden, Shrine of Remembrance, and surrounding civic features, seamlessly integrating the architecture with the location’s historic and urban context.

Tim said acquiring the sites allowed for the introduction of a superior design and place-making outcome for this corner of South Melbourne, reinforcing the developer’s conviction in the area and the city-fringe residential market.

"In this vibrant corner of South Melbourne, seamlessly connected to South Yarra and the Botanic Gardens and just 1.6km from the CBD, we envision an innovative, amenity-rich village that fosters community engagement with the Domain Precinct. Our goal is to provide sophisticated yet attainable residential designs that complement the prestige of this remarkable location.

“After exploring the opportunities presented from a larger, amalgamated site, Time & Place has been able to unlock further design and amenity opportunities, evolving our original idea for the site into a true urban precinct that feels incredibly authentic to our brand and values.

"This thoughtfully designed development will cater to the evolving lifestyle needs of our diverse demographic, who value connectivity and innovative design in amenity-rich apartments, that not only provide exceptional views of the Botanic Gardens but foster a sense of belonging and enrich residents' lives.

“In South Melbourne we're dedicated to redefining inner-city living. Embracing the 15-minute neighbourhood concept, we're amplifying the local dining and lifestyle amenities, addressing many longstanding gaps felt in the location, and infusing the suburb with economic vitality and social vibrancy.”

Sales will commence on the yet to be named project later in 2025, with construction set to follow shortly after. 

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