Largest urban renewal project in Australia to become the new heart of Melbourne: Planning Minister
An iconic new intersection has been created for the Docklands area at Collins Street and Bourke Street, and it may become the new “heart of Melbourne,” according to Planning Minister Matthew Guy.
Opening the development last week, Guy noted that it is an important milestone for both Melbourne and for Docklands, calling it a “new heart” for both.
“Bringing two of the city’s most important streets together for the first time at this new intersection represents a significant historical moment for Melbourne,” Guy said.
This could be a crucial step in the defining of Docklands’ future, an area that has been criticised over its planning and implementation in the past. Property Observer took a tour around the area in October, finding that there may be a strong future ahead for the precinct upon completion in 2025 after a “difficult conception” after an estimated $17.5 billion of private sector investment.
The development, and Collins Street extension, is a partnership with the City of Melbourne, Places Victoria and Lend Lease. The Collins Street extension, a $21.5 million capital cost project, also includes $3.5 million of tram infrastructure work. This has added 1,200 extra services per week to the Docklands tram timetable.
“This new intersection is indicative of the infrastructure the State Government and City of Melbourne have provided for the growing Docklands community. More than $1 billion worth of development is currently underway in the area, making it by far the largest urban renewal project under construction in Australia,” Mr Guy said.
The intersection has been opened to pave the way for Dock Square, set to open in early-April, a 3,500 square metre open space in Docklands.
“The $63 million civic precinct will be an outstanding addition to our city incorporating Dock Square, the Library at the Dock and the Family Services and Boating Hub that will get underway later this year,” he said. He previously foreshadowed the importance of Dock Square when announcing The Altus, a $300 million hotel and apartment complex to be built on the corner of the Harbour Esplanade and Dudley Street.
Guy co-announced the intersection with Lord Mayor Robert Doyle, who said that few could have dreamed of this development.
“The opening of this new intersection not only brings together two of our most iconic streets, but creates a unique meeting places in the heart of Docklands,” said Doyle.
For those interested in Docklands, here are five residential developments shaping the future of the area.