The sale of University of Melbourne’s former Hawthorn Campus will finally be complete after its rezoning as a residential growth area was gazetted.
Melbourne developer Hamton picked up the Scotch Hill site in March last year reportedly for about $50 million.
The 1.62ha site was considered “surplus to the university’s needs ... it must be rezoned to enable its sale to a private entity”, the amendment documents said.
The university which reportedly picked up the site in 2004 for $12.8 million from the Hawthorn Institute of Education.
Hamton plans to build a $400-million residential project with 300 apartments on the site, while integrating the masterplan of the neighbouring Homes Victoria development.
Woods Bagot was already lined up to design the Hamton project with low-rise buildings up to six-storeys or 27m, according to the gazetted requirements.
The land at 442-450 Auburn Road and 9 Bills Street, Hawthorn, is within the City of Boroondara and was gazetted by the Victorian Minister for Planning on September 28.
Hayball is designing the Homes Victoria component of the residential growth area, adding 206 new social and affordable houses as part of the Big Housing Build.
The Victorian government is investing $99.8 million into the project, which is expected to be completed this year.
Meanwhile, work on the Hamton development is scheduled to start in 2025 and will add 30 affordable homes to the mix.
The University of Melbourne will use funds from the sale of the site for the Australian Institute of Infectious Disease to be built in the Melbourne Biomedical Precinct.
On the same day as the gazettal, the University of Melbourne maintained its title as the highest ranked Australian university across three major global rankings with its 37th position, according to the Times Higher Education ranking.
