As Melbourne grapples with a housing crisis and the lingering effects of remote work, a plan to transform the city’s old office towers into residential spaces is gaining traction.
And Melbourne Lord Mayor Nicholas Reece says property developers, financiers and investors will drive this revitalisation of the CBD while potentially reaping significant returns.
To that end, Reece, who pushed for guidelines around such conversions in February, wants incentives for developers to convert old office buildings into residential units.
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