Why Geelong is on the cusp of new building boom

Geelong is on the cusp of a new development boom as Victoria’s second city awaits several planning frameworks guiding its future growth.

Construction work continues at Quest Central Geelong, a Pellicano project to deliver 87 serviced hotel rooms plus 63 residential apartment above.

Geelong is on the cusp of a new development boom as Victoria’s second city awaits several planning frameworks guiding its future growth.

As the region is preparing for a construction frenzy in preparation for the 2026 Commonwealth Games, the long-awaited Central Geelong Framework Plan would be the real starting line for a new pipeline of projects, Gartland Geelong director Michael De Stefano said.

Mr De Stefano said a number of developers waiting for the state government to reveal the final framework were expected to move within 12 months to reveal plans on CBD sites quietly acquired off-market.

RELATED: State government in slow lane for approvals of massive CBD developments

Ocean Grove house for sale has an indoor slide, two secret rooms and a pirate ship

Geelong motel sale fully booked as buyers eye accommodation boom

An aerial photo taken of Geelong’s central business district and Corio Bay in late 2022.

“There are a few that I know that are waiting on the framework policy to come out so they know what to submit essentially,” Mr De Stefano said.

“There is a great number that sit perhaps 12 months behind that (the framework being released). So I think there will be a number of things to come out of the woodwork even as soon as that framework has been announced.

“We all know what the mandate is – 10,000 to 12,000 people living in central Geelong before 2030, so I think it’s going to be done in a hurry,” Mr De Stefano said.

Mr De Stefano said the delay in that report had caused a development lag.

Artist renders show the Cunningham Place development planned for central Geelong by Amber Property Group.

The State Government has previously explained the process of working through the complex issues that arose from the advisory committee’s report into the draft framework had taken longer than expected.

“I guess had we not had that framework delay, we would have seen probably another couple of towers, or at least more cranes in the sky (over Geelong),” Mr De Stefano said.

Projects already in the pipeline include mixed use developments from Gurner and Amber Property Group on opposing Gheringhap St sites, Punthill’s apartment project in Bellerine St, while Quintessential Equity last year launched its own office project at 20 Gheringhap St, a project approved earlier.

Franze Developments’ Geelong Quarter Project and Pellicano’s Quest Central Geelong are both expected to be completed in 2023.

Construction work continues at Geelong Quarter on Ryrie St, a Franze Developments mixed use project including a Holiday Inn hotel and private apartments.

Gartland director Michael De Stefano, left and Projects by Gartland partner and lead sales agent Andre Veronie.

Gartland is the third Geelong real estate agency to launch a projects arm, Projects by Gartland and has appointed Andre Veronie as partner and lead sales agent.

Mr Veronie, who was previously at Whitford Projects where he worked on developments including Miramar, R Hotel and Nexus, has a background in property development and construction, including with Lend Lease, APBC and Grocon.

“We’re consulting on a number of mixed use sites across the CBD, so I think that it’s an exciting time for things to be accelerated, also with the Commonwealth Games now,” Mr De Stefano said.

Gurner has unveiled plans turn a former woolstore building at 20-28 Brougham St, Geelong into a $300 million mixed-used precinct with a five-star hotel, luxury private residences and a food and beverage precinct.

While the CBD will take a significant stake in the city’s population growth, Geelong council’s settlement strategy aims to split growth evenly between new suburbs and in-fill developments, including Moorabool St, South Geelong, and Gordon Ave and the north end of Pakington St, Geelong West.

“If you overlay these areas like-for-like in Melbourne, if you compare Pakington St with South Yarra, it’s where people want to live and the amenity that comes with that,” Mr De Stefano said.

Artist’s impressions of the South Geelong urban design framework shows higher density living surrounding GMHBA Stadium along Moorabool St.

“There are going to be opponents of that style of development, but it’s inevitable. Geelong is growing at a pace that is within the top three areas of Australia still.”

The region’s biggest urban growth corridor to the north and west of the Geelong is set to dwarf developments in Armstrong Creek.

“The past five years has been a growth that we haven’t experienced since the 1950s, the next period in Geelong in terms of population and infrastructure development is going to be unprecedented,” Mr De Stefano said.

Originally published as Why Geelong is on the cusp of new building boom