Development Projects Fast-Tracked in Recovery Bid

A $250 million commercial hub at Toorak village and a three-tower development in Fishermans Bend are two projects forming the latest tranche of “shovel-ready” projects the Victorian government says will help the state’s construction pipeline.

The latest announcement comes as premier Daniel Andrews faces growing pressure to solve the state's coronavirus crisis following national cabinet’s meeting on Friday and Sunday’s release of Victoria's economic recovery roadmap.

In the state’s bid to provide greater clarity on the recovery road forward, planning minister Richard Wynne announced the latest round of new development permits for projects across Victoria’s rural and metropolitan areas touted to be worth a total of $933 million.

Melbourne developer Bill McNee's Vicland is behind the 8-storey commercial hub at Toorak village, granted the latest tick of approval.

The project includes a ground floor supermarket and plans for a retail precinct set to appeal to the area's wealthy residents.

Tim Gurner's 3-tower development spanning a 10,000sq m site at Fishermans Bend, located at 2-28 Montague and 80 Munro Street has also been given the official nod after a three-year planning process. Nearby, a $100 million 36-storey mixed-use tower at 203-205 Normanby Road Southbank is also on the approval list.

Gurner's approved scheme allows for three towers, comprising 38 and 24 levels of residential, along with 15 levels of commercial office, and 24 affordable housing units.

▲ Vicland's plans for a commercial and retail development proposed for Toorak Road.
▲ Vicland's plans for a commercial and retail development proposed for Toorak Road.

In Dandenong, the list includes two 12-storey apartment buildings, valued at $70 million, at McCrae Street and a social housing development worth $4.6 million at Wilma Avenue.

The list of approved projects also include a 75-megawatt solar farm in the Latrobe Valley announced to be worth $110 million.

Projects in Prahran, Port Melbourne, Geelong and Collingwood were also given the go-ahead in Wednesday’s announcement.

Wynne added that the Building Victoria’s Recovery Taskforce fast-track team will continue for at least the next 12 months.

The fast-tracked projects

Project Location
8-storey commercial hubToorak Village
3-tower development2-28 Montague and 80 Munro Street South Melbourne
36-storey mixed-use development203-205 Normanby Road Southbank
Two 12-storey apartment buildingsMcCrae Street Dandenong
New aged care facilityGreville Street Prahran
A 75-megawatt solar farmToongabbie in the Latrobe Valley
20-storey commercial and retail development 118 Bertie Street, Port Melbourne
14-storey residential building1-3 Hays Place, Geelong
12-storey development including a hotel, gym, and offices81-89 Rupert Street, Collingwood
Social Housing developmentWilma Avenue Dandenong


Join 50,000+ property professionals who subscribe to our email briefings.

Australia’s most trusted source of property news and intelligence.

advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://www.theurbandeveloper.com/articles/vic-development-projects-fast-tracked-recovery-bid