Toyota Australia Motors Into Apartment Development in Melbourne

Toyota Australia is set to change gears after revealing plans to convert most of its Elizabeth Street retail site into four residential towers with 1000 apartments.

The company has lodged a Development Application to build four towers between 47-68 metres in height on its 7,051sqm Melbourne City Toyota site at 611-681 Elizabeth Street.

The development will include 1,090 apartments split between two residential and two student accommodation towers. Student studio apartments will be 24 sqm in size.

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Toyota Australia has also proposed 3956.8 sqm of commercial space, 367 car park spaces, 1,372 bicycle spaces, 732 sqm gym and rooftop terraces.

The development will still include space for a 1,413 sqm showroom, most likely for Toyota.