More than half a billion dollars’ worth of new construction projects is set to go ahead as the Victorian Government has issued approvals for them to proceed.
Planning Minister Richard Wynn has announced approvals for six new major buildings worth a combined total of $625 million across metropolitan and regional Victoria.
- A $130 million, 13-storey office building with ground floor retail at 462-482 Swan Street in Richmond
- A 15-storey, $85 million, 5-green star commercial development at 36-52 Wellington Street in Collingwood
- An 8-storey office and commercial building at 12 Balmoral Walk, Frankston worth $116 million
- A 72-megawatt solar farm on Wangaratta-Kilfeera Road in Laceby, valued at $93 million
- A $24.2 million mixed use development at 69-75 Mortlake Road Warrnambool
- Two 4 storey apartment complexes including 53 social housing units in Reservoir valued at $74 million.
The government has also launched a new Development Facilitation Program, which will continue the work of the Building Victoria’s Recovery Taskforce which completed its term in August.
In its new role, the DFP will identify priority projects for approval which meet specific criteria including investment certainty, positive short to medium term economic impact, job creation and contribution to broader social objectives like affordable housing and emissions reduction.
Mall up, the Government says more than $7.5 billion worth of projects have been approved since March after it identified the building and construction sector as a key mechanism to help revitalise Victoria’s economy.
Planning Minister Richard Wynne welcomed the announcement.
“We know how important the building and development sector is to our economic recovery and we’re continuing to support the industry with a pipeline of shovel ready projects,” he said.
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