Developer Geno Hubay’s Monno has won approval for its latest mixed-use project in Geelong.
The Victorian Department of Transport and Planning has granted approval for the Moorabool Street project on a 917sq m site at 61-71 Moorabool Street.
The site has three separate street frontages—Moorabool Street, Corio Street and Emerald Place, and views over Corio Bay.
The JCB Architects-designed plans propose a 12-storey tower with ground floor retail and hospitality spaces, commercial office space on the first floor and 58 apartments over the remainder of levels.
There would also be four levels of basement car parking with 79 car spaces and 73 bicycle spaces.
Monno said the project has an estimated end value of $75 million.
It also said the building would be carbon neutral as it will be fully electrified with renewable energy supplied via an embedded network.
Passive design would also be incorporated to achieve a NatHERS rating of 7.5 stars.
There would also be covered arcades and active street frontages to help contribute to Geelong’s laneway culture, public spaces and a residents-only rooftop area.
The Greater Geelong Planning Scheme has designated Corio Street as a key street for laneway culture.
The project would replace an existing two-storey brick office building on the site. Monno plans to launch sales early next year.
Acre is the landscape architect for the project while Hip V Hype provided environmental design consultation and advice.
Monno has a $1.25-billion pipeline of projects and $200 million in projects under construction.
These include the $130-million residential project Stella Maris at Rippleside, where a builder was appointed two weeks ago, and a $70-million office building at Cremorne.
“We genuinely believe in Geelong - we have long identified the region as a strategic investment opportunity leveraging our strong design-led capabilities,” Hubay said.
“Our current Stella Maris development is testament to our commitment to Geelong and the broader region.”
And Monno will retain the Everlane when it is completed in February, the company’s second asset on Gordon Street, Cremorne.
Geelong Activity Centre Zone controls were recently gazetted, setting a six-storey preferred height limit for the area, but Victorian planning minister Sonya Kilkenny granted the approval for a 12-storey tower despite these limits.
In the next 30 years, central Geelong is expected to have a population of more than 16,000 people with employment and services for more than 60,000 people.
