Victoria Fast-Tracks $1.1bn in Project Approvals


Two towers at Collins Wharf and the $220 million Geelong Precinct are the latest projects to be fast-tracked by the Victorian government in a bid to kick start the state's economy.

Seven development projects worth more than $1.1 billion have been given the nod in the latest tranche of planning permits issued by the state government’s Building Victoria’s Recovery Taskforce.

The latest shovel-ready projects include Lendlease’s $291 million, two-tower residential development in Docklands.

The two-tower project, at 938 Collins Street, will comprise 668 apartments when complete and forms part of the five-tower project located at the Collins Wharf development.

Geelong’s new $220 million Civic Precinct is one of the latest development projects to be fast-tracked by the state. shovel-ready projects.
▲ Geelong’s new Civic Precinct is one of the latest projects to be fast-tracked by the state.

A solar farm at Kennedys Creek worth $200 million, located five kilometres north-east of Benalla has also been given the nod.

The announcement follows earlier approvals for the country's tallest residential tower and three mega-projects in late-April, followed by a fast-track announcement of five shovel-ready priority projects in late May.

“These projects are more important than ever before,” Treasurer Tim Pallas said of the announcement.

“Because more cranes in the sky means more Victorian jobs – both during construction and long afterwards.

Pallas added that government has approved 91 new and amended planning permits since March.

Developer BPG’s $250 million development at 31 Station Street Caulfield, which has reached its third stage, forms part of the latest permits. The Caulfield Village mixed-use development includes a build-to-rent scheme, retail and office space.

Other projects given the go-ahead include the two multi-storey apartment buildings at 103-109 and 115-117 Boundary Road in North Melbourne with retail and office space, valued at $41.2 million.

And plans for the City of Greater Geelong’s new $220 million Civic Precinct have been fast-tracked.

The Geelong precinct is an investment between property group Quintessential Equity and the City of Geelong.

The Cox Architecture-designed project, located at 137 Mercer Street, will include a new head office for the City, a separate building owned and managed by Quintessential Equity, and 2,600sq m of public space.

Builder Watpac Limited has been appointed with construction to start on the new council headquarters in August and completion slated for mid-2022.

Related: NSW Fast-Tracks $4.7bn In New Approvals

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