VIC Govt fast tracks delivery of $1.1bn worth of building projects

The State Government’s Building Victoria’s Recovery Taskforce is fast tracking the delivery of seven jobs-creating building projects – with a combined value of approximately $1.1 billion – to help kickstart the economy as it recovers from the recent pandemic.

The projects that received planning approval include:

• A $291 million, two tower residential development by Lendlease at 938 Collins Street, Docklands that features 668 apartments
• A $250 million development by BPG at 31 Station Street, Caulfield that includes a build-to-rent scheme, affordable housing, a supermarket, retail and office space
• A $150 million Geelong Civic Precinct that includes a 6-storey commercial building to be used as the new civic centre for the City of Greater Geelong, and a 12-storey commercial development to accommodate a further 900 full time workers
• A $200 million solar farm at Kennedys Creek – located 5 kilometres northeast of Benalla – which will generate 115MW, enough to power over 50,000 households
• 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
• A $70 million development at 346-350 Macaulay Road, Kensington that includes 6 multi-level buildings comprising of 426 dwellings and retail space
• A $110 million nine-storey mixed use development at 285A Burke Road in Glen Iris – next to the Gardiner train station – comprising of 1 dwellings funded under the National Disability Insurance Scheme

“These projects help grow our building and development industry, they create jobs and they build the things Victorians need,” Treasurer Tim Pallas said.

Following the Taskforce’s advice, the Planning Minister will begin the process of, where appropriate, calling in projects that have been sitting with council or VCAT. To date, there are six projects – with a combined value of $750 million – already called in.

Beginning March of this year, the Victorian Government has green-lighted 91 new and amended planning permits for various developments that have a total value of over $6 billion.

“Now more than ever, Victoria needs a strong building and development sector, and we’re making sure this industry can continue to thrive all over the state, despite the challenges of coronavirus,” Minister for Planning Richard Wynne said.

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Source: Premier of Victoria; The Urban Developer