Developer CostaFox has lodged plans for 40-storey mixed-use tower in Melbourne's Fisherman's Bend precinct.
The developer, run by Michael Fox, is not deterred by Victoria's new state taxes or the slowdown in offshore investment following the federal government's ownership clampdown -- the $300 million tower will add 396 apartments to the market.
Located at 111 Lorimer Street, Docklands, within the Lorimer Precinct of Fishermans Bend, the proposed development sits across 3,841 square metres of retail and commercial space.
CostaFox managing director Michael Fox said the development is expected to attract local corporate owner-occupiers, in line with the planning focus to create a “walkable city”.
“[Located] just one kilometre from the western end of the CBD forming Melbourne’s new financial district, and with immediate access to South Wharf, the Yarra River, bike tracks, and the new river restaurant precinct proposed in the Fisherman’s Bend Strategic Framework Plan, the site is in an incredible location and will offer stunning views in all directions," he said.
Designed by Rothelowman, the mixed-use development will provide for a variety of uses including residential, retail, café and commercial office space.
The residential component will include one, two, three and four bedroom apartments. The building will also include two levels of office space, two basement carpark levels and 3,390 square metres of residential amenities and garden including pool, gym, lounge, kitchen and dining facilities.
[Related reading: Construction Under Way On Public Park In Fishermans Bend]The site has three existing street frontages on Lorimer, Rogers and Boundary Streets, and a proposed new laneway will provide a fourth between Lorimer and Boundary Streets. The adjoining land to the east is occupied by the Subaru Interactive at Docklands Facility.
The land to the north, on the opposite side of Lorimer Street features the recently constructed 2-4 storey townhouses that form part of Mirvac’s Yarra’s Edge.