Guy – $100 million tower to invigorate riverfront precinct

· 30-level, 229-apartment residential tower approved for Yarra’s Edge in Docklands
· Design invigorates waterfront precinct and provides a striking skyline addition
· Reflects Plan Melbourne initiative to direct housing growth to CBD areas

A $100 million, 100-metre high apartment building has been approved for Docklands, becoming the first tower in the prime riverside Bolte Precinct.

Planning Minister Matthew Guy said the development will enhance the Docklands area, connecting the city’s iconic river with the thriving central business district.

The building is part of the ongoing Yarra’s Edge development, the 30-level tower at 160-186 Lorimer Street and is designed to 4 star Green Star standard and features:

· 229 apartments (ranging from one-bedroom to family size
apartments);
· 302 car parks;
· 84 bicycle spaces; and
· ground floor retail premises.

“This development reflects not only the fact that Melbourne is the best place to invest and build, it is also a centre of great architectural and urban design. This development delivers on Plan Melbourne, our vision for Melbourne to 2050, which supports development in the central city with access to transport, jobs and services close by,” Mr Guy said.

“The Victorian Coalition Government is boosting construction activity and creating thousands of new jobs in the building industry. Building permit activity for 2014 so far is 13 per cent above the same period in 2013, up to $10.6 billion.”

Mr Guy warned against Labor’s destructive plans for the construction industry.

“The Labor Party wants to make housing less affordable for Victorians, by opposing well-planned suburbs as well as apartment towers in the CBD. Labor would destroy thousands of construction jobs and hurt our economy with its destructive attitude to our city.

“Our projections show Melbourne’s expanded central city is likely to become home to an additional 100,000 people by 2031. Around 60,000 new dwellings will be required to accommodate this growth, so it’s important that we direct higher density to areas like Docklands while ensuring new developments cater for singles, couples and families.”

Upon completion Docklands is expected to have attracted in excess of $17.5 billion in private investment and be home to an estimated 20,000 residents,
60,000 workers and millions of visitors annually. The Lorimer Street development adjoins the Lorimer Precinct of the Fishermans Bend Urban Renewal area and expected to house more than 80,000 residents.