$100 million redevelopment of Sandridge Bridge and Southbank Promenade delayed

A DELAY in improving Southbank with better cycle links, landscaping and refurbishment of Sandridge Bridge has been blamed on ­financing issues over Crown’s new $2 billion hotel venture.

A DELAY in improving Southbank has been blamed on ­financing issues over Crown’s new $2 billion hotel venture.

The state government approved One Queens­bridge tower in February last year, including $100 million to upgrade Queens­bridge Square and the Sandridge Bridge.

However, Melbourne City Council said delays for Crown’s development had affected funding for the works package that will include better cycle links, landscaping and refurbishment of the bridge.

CROWN’S PLAN ANGERS NEIGHBOURS

A council report said this meant its 2017-18 works program for Southbank Promenade had been reduced by $2.9 million.

“To deliver appropriate design and development outcomes in this area, close co-ordination between private developers, the City of Melbourne and the state government is required,” a council spokesman said.

Sandridge Bridge and Southbank Promenade. Picture: David Crosling

One Queensbridge, which at 323m will be 26m taller than Eureka Tower, is a joint venture with developer Schiavello and will feature 388 hotel rooms and 708 apartments.

Crown’s recent half-year results statement said the project “remains subject to financing and long-term agreements”.

$40M REDEVELOPMENT OF AREA

HOTEL TO BE NATION’S TALLEST BUILDING

Other CBD projects still needing funding include the $330 million Windsor Hotel redevelopment. Owner the Halim Group received approval to refurbish the hotel and build a 27-level annex in March 2016 after a long planning battle. The group’s Adi Halim is still seeking finance.

The city council works program report also revealed a $12.15 million reduction in 2017-18 for the Queen Victoria Market redevelopment because of planning permit approval delays and “lengthy contract negotiations”.

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