The approval of four major projects in Melbourne will provide a much-needed boost for the pandemic-hit economy.

Worth a total of $1.5 billion, the iconic development approvals have been fast-tracked by the newly formed “Building Victoria’s Recovery Taskforce”.  The expert task-force has been assembled to help keep the state’s building and development industry running through the coronavirus crisis.

Planning Minister Richard Wynne said “We’ve put together an expert task-force to identify projects that can be fast-tracked through my department, so we have a steady stream of work going forward,”

“We know that the building and construction industry is absolutely critical to the health of the Victorian economy — both direct jobs and the supply chain as well”.

SOUTHBANK BY BEULAH DEVELOPMENT

Image: courtesy Beulah

The development by Malaysian-backed Beulah International will be Australia’s tallest building, reaching 356 metres high. The 101-storey twisting tower is to be built on City Road and will include residential dwellings, a hotel, commercial offices and a retail precinct. Designed by UNStudio and Cox Architecture construction is expected to commence next year and will be completed in around five years.  

555 COLLINS STREET – CHARTER HALL

Image: courtesy Charter Hall

The mixed-use development by property developer and landowner Charter Hall will comprise 84,000 square metres of office space and 2,300 square metres of retail space across two stages.

Designed by architecture firms Cox Architecture and Gensler, the project is anticipated to boost Victoria’s building and development industry by generating more than 4,700 jobs.  

52-60 C OLLINS STREET – DEXUS

Image: courtesy Dexus

Located at the Paris end of Collins Street, Dexus’s development of 52-60 Collins Street will deliver 35,730 square metres of Premium office space. The 26-storey Bates Smart-designed office tower will provide premium office accommodation.  

EPSOM ROAD, FLEMINGTON – PACE DEVELOPMENT

Image: courtesy Pace Development

The 15-storey horseshoe-shaped apartment building by Pace Development will sit adjacent to Flemington Racecourse. The design by ARM Architecture has a project value of $80 million and will feature approximately 300 apartments.

The post Melbourne Approves Economy Boosting Projects first appeared on Capstone.