A $490 million three-tower development at 614-666 Flinders Street has been approved, part of Lendlease’s Melbourne Quarter project on Batman Hill.
The project will include 1693 one, two and three-bedroom apartments, retail space and a 1600 square metre public park to be known as Batman’s Garden.
In March, Minister for Planning Richard Wynne approved the first stage of Lend Lease’s Melbourne Quarter, including a new commercial tower and an elevated park to be built over Wurundjeri Way and Collins Street.
The project is in keeping with the Labor Government’s push for quality development and for more homes to be built to keep pace with Victoria’s growing population.
New data from the Victorian Building Authority for the 2015-16 financial year shows building permits exceeded $31 billion for the first time.
The major contributors were houses, up 12.5 per cent from the previous year’s record total to $16.2 billion, and apartments, which rose 23.7 per cent from 2014-15 to a new record total of $6 billion.
Melbourne’s liveability, ranked number one for the sixth year running this month, will be preserved and enhanced through consistent domestic building approvals which allow people to live close to where they work and through long-term planning.
Beyond the CBD, Mr Wynne has also approved a 60-hectare expansion plan for the Casey town centre, between Cranbourne and Fountain Gate, Narre Warren.
“Population growth is great for our economy but we need to properly plan for more people so Melbourne’s liveability isn’t threatened, which is why we’re making sure long-term plans are in place so people can live close to their work.”
Once built, the site will accommodate more than 4100 jobs in office and commercial buildings and be home to about 4200 people in 2000 homes.
Melbourne’s future housing pipeline is underpinned by more than 640 hectares of inner-city urban renewal land and a steady approval of precinct plans around growth areas.