VCAT decision paves way for three residential towers at Preston Market

PRESTON Market developers have been given the green light to build three residential towers next to the market site, ending a fierce saga involving community opposition to the proposed development.

Preston Market concept shots for the residential buildings.

THE construction of three apartment towers at Preston Market has been given the green light.

The Victorian Civil and Administrative Tribunal yesterday ticked off plans for Preston Market Developments to build 283 units, including two 10-storey buildings and one 14-storey building on car park land next to the market site.

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The decision ends a long saga involving fierce community opposition to the proposed development.

Darebin Council knocked back permit applications in February citing traffic concerns, loss of car parking and harm to the character of the market.

Preston Market Developments appealed to the tribunal, arguing the Murray Rd site, which abuts Preston Station, was a prime location for development.

The tribunal agreed, noting that with the average three-bedroom home in Preston worth close to $1 million, “it would be unsurprising if young adults who live in this area ... might find an apartment in one of (the buildings) convenient and much more affordable”.

The tribunal also found concerns over the impact to the market’s character were “based on a misapprehension that the existing market will be undermined or irretrievably impacted by the proposed development”.

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Darebin Mayor Kim Le Cerf said the council was disappointed in the decision and warned the market was at risk of overdevelopment.

“Council will now turn its attention to working with the Victorian Planning Authority, who have been given two years to update the master plan for the Preston Market site,” she said.

Save Our Preston Market spokeswoman Lori-anne Sharpe pledged to continue fighting for the market.

“We must not be complacent and continue to seek assurances from all levels of government that they are doing all they can to ensure the future of our fresh food market,” she said.

Preston Market Developments is a joint venture between market owner Salta Properties and Medich Corporation.

Comment has been sought from Salta Properties.