Search on for Yarra Valley Water Tank Project Developer

Development Victoria is on the hunt for a developer partner to help deliver about 275 apartments on the site of a decommissioned water tank atop one of central Melbourne’s highest points. 

The Yarra Valley water tank was decommissioned in 2004, and, at 9km from the CBD, provides an opportunity to deliver housing in a well-located area.

Development Victoria head of housing Penny Forrest said the project would “help cater for the growing population of the Ivanhoe-Heidelberg area by increasing the quantity and diversity of housing available”.

Colliers’ Jozef Dickinson and Philip Heberling are marketing the 6220sq m development site at 421 Upper Heidelberg Road, Ivanhoe. 

Dickinson said it was a “unique” opportunity for urban renewal in an area where vacant land was scarce. 

"In an environment where discussion around housing supply has never been more prominent, it is great to see Development Victoria keen to get on with delivering a great vision for the site,” Dickinson said.

“[It’s] an ideal location for housing, close to public transport, the Austin Hospital, quality schools and a thriving retail community.”

Dickinson said they anticipated strong interest from capable developers.

​​Development Victoria is working with the Banyule City Council and other stakeholders on a development plan for the water tank site. 

The development plan includes provision for up to 12 storeys of housing that would suit build-to-sell, build-to-rent, retirement and aged care.

The developer would also deliver a 2081sq m park. 

Colliers’ Philip Heberling said the project had a sustainability focus on delivering energy and resource-efficient housing. 

“The development plan aims to effectively integrate occupant-focused spaces, reductions in life-cycle carbon emissions, improved resource efficiency, and enhanced natural systems consistent with climate resilient principles,” Heberling said.

“The project prioritises sustainable outcomes to realise a high-performing project that benefits people, place and planet.”

Tank demolition and site remediation are due to start soon and a public consultation is currently under way for the development plan.