Apartment projects are taking shape in the 480-hectare Fishermans Bend urban renewal precinct, with Gurner’s $1 billion trio of towers gaining approval.
After a three year planning process the 10,000sq m island site was approved in Victoria’s latest tranche of shovel ready projects.
The site at 2-28 Montague Street will become a multi-tower mixed-use precinct designed by Cox Architecture and comprise 700 residences and hotel rooms, 24 affordable housing units, 14,453sq m of commercial space and 5,668sq m of retail.
Gurner founder Tim Gurner said the project will play a key role in the regeneration of the prominent South Melbourne precinct and its connection to the CBD and Docklands.
“In theory this site could have housed upwards of 2,000 apartments but we wanted to create a range of uses to reflect the vibrant changing landscape of South Melbourne and Fishermans Bend,” Gurner said.
“We are grateful to now be able to move onto the next phase of this project and bring our vision for a truly world-class mixed use precinct on this iconic site to life.
“That vision includes a 4.5-star hotel, a large commercial and retail offering and a series of hero state-of-the-art showrooms at ground level.”
According to the Victorian state government Fishermans Bend is Australia’s largest urban renewal project and will be home to 80,000 residents by 2050.
The precinct has already lured a lot of developers and large-scale projects including the $2 billion new University of Melbourne campus, a $100 million childcare facility, a secondary school, employment precinct, parks and public transport.
However approvals have been hard to come by with lengthy application delays across 26 high-rise projects including the Gurner site.