Residential development earmarked for Docklands
Melburnians looking for residential property in the heart of the city may be interested in a $160 million development earmarked for Docklands.
Announcing the multimillion-dollar project's approval yesterday (January 24), state planning minister Matthew Guy said the two new towers - which comprise more than 400 apartments - will provide more inner-city living opportunities.
Measuring 142 metres and 52 metres, the buildings are part of the New Quay precinct - an area boasting townhouses, apartments, commercial property and a 5,000 sq m urban park.
Mr Guy commented: "At the halfway mark in Docklands' development it is important that we continue to build on the current community fabric and provide even more living choices close to existing transport connections, jobs and retail."
Docklands - which has been under construction for 12 years - is currently home to 7,000 residents and 30,000 workers - increasing to 20,000 and 60,000 respectively by 2025.
The minister went on to add that in 2012 more than $2.4 billion worth of commercial and residential works kicked off - making it the biggest year in terms of development activity.
"As a vital economic hub for Victoria, Docklands has already attracted more than $8.5 billion of private investment and is estimated to attract $17.5 billion upon completion," he explained.