Fast-tracked suburban developments to kickstart construction industry
A thirteen storey tower in the main street of Richmond and a $116 million expansion of Frankston shopping centre are among six major projects granted priority approval in a bid to create jobs and bolster Victoria’s economic recovery.
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A thirteen storey tower will be built in the main street of Richmond as part of $625 million worth of Melbourne developments fast tracked to boost the state economy.
The $130 million Richmond office block, a 15-storey timber tower in Collingwood and a $116 million Frankston shopping centre expansion have been given the green light by the state government.
Six major projects in metropolitan, rural and regional Victoria have been granted priority approval by Planning Minister Richard Wynne in a bid to create jobs and bolster Victoria’s economic recovery.
Treasurer Tim Pallas said Victoria’s building and construction sector had been identified as a key tool to revitalise the state’s economy.
“As restrictions ease it’s crucial there’s an ongoing supply of projects to secure existing jobs, create more employment opportunities and keep investment coming into our state,’’ he said.
The office tower, near Burnley Station at 462-482 Swan Street, will be among the tallest in Richmond and feature shops on the ground floor.
The $85 million, 5-green star commercial development at 36-52 Wellington Street in Collingwood will be built out of prefabricated timber and is expected to take 15 months to construct.
An eight-storey office and commercial building will be built in an expansion of Bayside Shopping Centre in Frankston.
A 72-megawatt solar farm has been approved at Laceby valued at $93 million.
And a $24.2 million mixed use development in Warrnambool and two four storey apartment complexes with 53 social housing units in Reservoir worth $74 million have also been given the thumbs up.
Mr Wynne said more than $7.5 billion worth of projects had been approved since March.
“We know how important the building and development sector is to our economic recovery and we’re continuing to support the industry with a pipeline of shovel ready projects,’’ he said.
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