Billions in development headed toward construction
The next wave of projects readying for construction will see well in excess of $1 billion worth of additional development across Melbourne. Supplementing recently awarded projects and open construction tenders, a handful of major projects are also seeking permits to begin the construction process.
The most recent site to receive builders signage is CBD Development Group's 288 Albert Street, with LU Simon snaring Brunswick's tallest current development. At 14 levels, 288 Albert Street joins the likes of Reflections and The Burgin Residence (ABD Group), Dux Richmond Hill (Hacer Group) and Meridian (Platinum Constructions) as projects which have builders in place, but have yet to start works onsite.
Combined the above five projects alone will add near enough to 750 new apartments to Melbourne's inner suburbs.
Whilst the above projects are poised to begin construction, a wave of additional projects are at construction tender. Among them are two aged care projects that continue Melbourne's verticalisation of retirement living.
Jewish Care Victoria and TLC Aged Care are both pursuing their respective projects on St Kilda Road and Queens Parade, Clifton Hill. With both freshly listed as new construction tenders, the end result will be hundreds of new aged care and community care beds, along with various facilities and services supplementing either development.
With its call to construction recently outlined on Urban.com.au, Queens Place Tower 1 headlines the prospective residential builds at tender. At the lower end of the size spectrum a swag of residential projects are also looking to lock away a builder.
Rosslyn Apartments, Harvard Apartments, Piccolo Developments' 228-230 Dorcas Street, Rockley Gardens, 7-15 Little Oxford Street and the John Wardle Architects-designed 424 Malvern Road are all at tender.
In the student living stakes two noteworthy projects are at tender.
IGLU's 229 Franklin Street is a roughly 30 level tower that will mark the provider's entry into the Melbourne market, whilst Flemington Road is in for another shot of student living development. This is likely in the form of 5-17 Flemington Road, although a number of other student apartment projects are also active in the area.
From a commercial perspective three projects are preparing their tilt at construction, headlined by 161 Collins Street's T&G Building refurbishment which is at tender. Owner Pembroke Real Estate's plans for the historic building involve a Bates Smart-driven overhaul of the famed Melbourne landmark.
Direct off Urban.com.au's Forum is news that two of the CBD's larger commercial proposals have taken steps toward construction. 405 Bourke Street is subject to a Construction Management Plan submission which is with City of Melbourne and reportedly calls for a 10 month demolition and excavation programme, followed by 27 months of construction.
A Demolition Management Plan is also up for 477 Collins Street, with the Mirvac-backed development inching toward construction. Demolition is slated through to mid 2017, with construction complete in time for accounting firm Deloitte as the initial tenant to take up space by June 2020.
