Industry Superannuation Property Trust
(ISPT) has lodged plans for the largest residential development ever proposed in Melbourne's history.
The development, located on
The Age's
former site in
Spencer Street
, will feature nearly 3000 dwellings across six residential skyscrapers rising between 39 and 63 storeys.
The proposal coincides with increasing concerns about Melbourne's inner city apartment boom.
A wave of high-rise apartment projects such as Far East Consortium's
Upper West Side
development on
Lonsdale Street
which is currently under construction and poised to deliver over 2,500 apartments, have injected some market analysts with fears of an oversupply in central
Melbourne
.
