$1 billion in construction underway in Docklands

Docklands has been a substantial project, delivering strong results over the 2013/2014 financial year, according to Planning Minister Matthew Guy.

More than $9 billion has been invested in the area to date. For every $1 million of public funds that has been spent on the area, $50 million of private investment has been made.

Currently, more than $1 billion of construction is underway.

Other projects, however, are also on Places Victoria’s radar. This includes urban renewal areas across Melbourne.

Over the past financial year, they opened the new City of Greater Dandenong municipal building. They realised the sale of non-core greenfield landholdings and had a strong trading year at the LOGIS eco-industrial estate in Dandenong.

“LOGIS, which is a partnership between Places Victoria and Melbourne Water, has set a  new benchmark for industrial land values in Dandenong and is an excellent  example of the value that can be achieved from strong government agency  partnerships,” Guy said.