Mirvac has revised plans for the tallest building in the Yarra’s Edge precinct to include 190 apartments over 45 levels as the group anticipates strong growth in the Victorian market.
An extra level was added, through rationalising the rooftop plant and equipment space, to tower nine at Park Point Crescent, Docklands.
However, the number of apartments was reduced from 222 to 191 with configurations and floor-to-ceiling heights amended to meet the latest apartment design guidelines.
Work on the 11-building precinct, which began in 1999, has 1526 dwellings.
The 14.5ha site on compilation will eventually have 2300 dwellings across the towers, townhouses and river homes as well as retail, commercial space and a marina.
The decision to move ahead on tower nine followed demand for Mirvac’s recently unveiled $300-million Voyager tower in the same precinct which was 82 per cent sold.
Mirvac head of residential Stuart Penklis said that tower nine reinforced Mirvac’s confidence in the Victorian apartment market as the state looks to ease restrictions further over the coming months.
“Mirvac is focused on accelerating our supply of high-quality apartments in Victoria as we anticipate there will be a shortage of owner-occupier residences in premium locations in the future,” Penklis said.
“The strength of the established housing market and the opening up of international borders will continue to drive very strong demand for well-designed and quality constructed apartments just like Voyager and tower nine.”
Mirvac general manager for residential Victoria Elysa Anderson said the building was designed by the group’s architecture team.
“This spectacular building is planned to rise from the bank of the river creating a new legacy for Yarra’s Edge and a new icon on Melbourne’s skyline, with its enviable location at the end of the Collins Street axis,” Anderson said.
“The building will deliver an experience that fuses the future of luxury living in harmony with lush green tranquil spaces, connecting residents with nature and promoting a sense of health and wellbeing.”
Mirvac plans to launch the yet-to-be named tower nine in the second half of 2022 aimed at the premium end of the market.
The revised planning application was submitted to the Department of Environment, Land, Water and Planning as the area is part of a Development Victoria urban renewal precinct.