Fortis Reworks Failed Developer’s Richmond Site with Two-Tower Plan

The development arm of Pallas Capital wants to build the towers at 550 and 556 Swan Street, on two adjoining lots totalling 2915sq m about 6km east of Melbourne CBD.

According to ASIC documents, the development vehicle, 550 Swan Street Developments Pty Ltd, is directed by Pallas Capital chief investment officer Daniel Gallen, Pallas Capital executive chairman Patrick Keenan and Fortis executive director Charles Mellick.

The first tower, at 550 Swan Street, would reach 15 storeys, while the second, at 556 Swan Street, would rise 13 storeys.