The last Tuesday of February 2014 will now be known as the inagural ‘Super Tuesday’ according to the Victorian Coalition Government.
It was a day on which Minister for Planning Matthew Guy fast-tracked five major new high-density residential developments for Melbourne’s CBD. It is the largest number of private residential permits made on one day, with projects priced from $70 million to a whopping $164 million.
“The Australian dream of owning your own dwelling is still possible,” Guy said in a statement. “With the release of these five towers in Melbourne, new home buyers and others can once again have confidence that the state government is aggressively tackling the housing affordability issue in outer as well as inner city markets.”
Guy also recognised the increasing market demand for high-rise living in the city, pointing out that Melbourne has surpassed Surfers Paradise in apartment sales. He believes the approved permits will actively encourage new employment opportunities and investments in Melbourne.
“More than 2,000 new apartments, $557 million in new construction work and up to 4,000 new construction jobs will all result from this announcement,” Guy said.
Permit approvals include:
- Elenberg Fraser’s 63-storey, 632 unit tower at 127-141 A’Beckett Street. The 196 metre tower is worth $164 million.
- A 181-metre, 55-storey, 185 unit project by Bates Smart at 464 Collins Street worth $100 million.
- Hayball’s 55-storey, 178-metre tower at 398 Elizabeth Street, consisting of 466 apartments and worth $135 million.
- Fender Katsalidis’ project at 420 Spencer Street. The 30-storey tower stretches 131 metres high, consists of 438 apartments and is worth $70 million.
- DKO Architecture’s 18-storey, 61-metre at 395 Dockland Drive, consisting of 360 apartments and is worth $88 million.
“These ‘Super Tuesday’ approvals reflect the new Plan Melbourne policy in action with the delivery of an expanded CBD. Melburnians have made it clear that they want their suburbs protected from high-rise apartment development. To achieve this we’re delivering density in defined locations like Melbourne’s CBD and the Docklands – not in our quiet suburban streets,” Guy said.
“The state government has an unashamedly pro-Victoria and pro-Melbourne attitude to the construction sector. We are aggressively promoting central city growth. Victoria accommodates 25% of Australia’s population but we are punching above our weight by accounting for more than 27 per cent of national dwelling approvals over the last year.”
These five projects will add to the 31 tall buildings already currently under construction or topped out in Melbourne, with a further 43 skyscraper projects proposed or recently approved according to the Council on Tall Buildings and Urban Habitat.