ResidentialKirsten CrazeMon 07 Sep 26
Stockland Apartment Transformation of Jetstar’s Melbourne HQ Approved
The longtime headquarters of Jetstar will become almost 500 apartments after development heavyweight Stockland's first apartment deal in Victoria for two decades was waved ahead.
Stockland acquired the 5272sq m site at 79-81 Victoria Parade in December of 2024 for a reported $65 million in adeal negotiated through Colliers and CBRE. Henkell Brothers Investment Managers had owned the property since 1997.
The developer filed plans for its $302-million redevelopment of the Collingwood site in April. The proposal was fast-tracked via the Victorian Government’s Development Facilitation Program.
Stockland executive general manager for apartments Ben Christie said the Collingwood development would deliver new homes in a location where people want and need to live.
Christie said the project “demonstrates how well-located, higher-density development can support thriving, connected communities while delivering meaningful public benefits”.
The Collingwood project comprises 478 homes across two buildings of 17 and 23 storeys in a mix of townhouses, studios, one to three-bedroom apartments and four-bedroom penthouses. Retail and community green space are also included, as are 297 car spaces and 199 bicycle spots.
The site on the Victoria Parade tram corridor in the Smith Street Major Activity Centre is about 1.5km from Melbourne’s CBD.
Construction is slated to commence in 2028.
Jetstar will remain at Collingwood until its current lease runs out in 2027. The budget airline is in the process of relocating to Lendlease’s One Melbourne Quarter near Southern Cross Station, taking about 7000sq m across three levels.
