A major stage of a makeover of Melbourne’s most iconic market has received the tick of approval to go ahead.

The Victorian Government has announced that planning permits for the $1.7 billion mixed-use development on the 3.2-hectare southern site of the Queen Victoria Market have been approved.

Set to be known as ‘Gurrowa Place’, the site is bordered by Franklin Street, Queen Street and Peel Street in the northern part of the Melbourne CBD.

The project is being is being undertaken by Lendlease in partnership with the City of Melbourne and student accommodation provider Scape.

A key part of the project involves the development of three high-rise buildings along Franklin Street.

These include a 28-storey next-generation workplace along with around 560 build-to-rent apartments as well as accommodation for up to 1,100 students and world-class retail.

The build-to-rent apartments will include around 80 affordable homes. This equates to around 15 percent of the total.

The student accommodation places will be managed by Scape.

The three buildings will be connected to the market though restored Franklin Street stores and Market Square (see below).

The development will also include:

  • Transformation of the existing open-air carpark into a new 1.8-hectare public park to be known as Market Square.
  • new civic pavilion known as the Queens Corner Building. This will adjoin Market Square to the north, south and east and will provide space for council and community use.
  • Restoration of the heritage Franklin Street stores to retain and celebrate their heritage culture and character. The stores will be transformed into retail and hospitality outlets that will open up onto the future Market Square.
  • A 220-space underground basement car park that will help to compensate for the loss of existing open-air parking spaces that will make way for the new park.

The site’s history has been honoured after consultation with Wurundjeri Elders.

The name ‘Gurrowa’ means a place of exchange.

The approval of planning permits follows an earlier approval of the development plan back in April.

Minister for Planning Sonya Kilkenny welcomed the granting of approval.

“This project is delivering hundreds of new homes in the heart of Melbourne, giving more Victorians the opportunity to live close to jobs, transport, and services—all while protecting the heritage and charm that makes Queen Victoria Market such a beloved part of Melbourne,” Kilkenny said.

 

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