Market St in CBD could be closed to traffic under city park plan

A CBD street could be closed to traffic under a plan to provide a green link between Collins St and the Yarra River after the controversial “Pantscraper” is built.

An artist’s impression of the proposed "Pantscraper" development at 447 Collins Street.

A CBD street could be closed to traffic under a City of Melbourne plan to provide a green link between Collins St and the Yarra River.

Lord Mayor Robert Doyle has floated the closure of Market St after this week’s approval of the controversial “Pantscraper” at 447 Collins St.

Billed as one of the nation’s biggest mixed-use developments, the $1.25 billion twin towers, housing 205 luxury apartments, a five-star hotel and offices, will be connected by a sky bridge.

It will also have big external terraces, a wellness centre, and room for 500 bikes.

Developer Cbus Property has promised to set aside 2000 sq m on the Market St side for a park, an idea that was strongly supported by the council.

Cr Doyle said the council had done traffic studies when Market St was closed for remediation on the old Suncorp site.

An artist’s impression of the proposed green space.

An artist’s impression of the proposed green space.

“What we found is we don’t need Market St for smooth traffic flow in the city,” he said.

“If we don’t need it, is it possible to return that to public open space? And I love the idea of a new pocket park right on Collins St that leads you down to the river,” he said.

The precinct, which includes the Immigration Museum, was the original site of settlement after the arrival of John Pascoe Fawkner’s schooner, Enterprize, in August 1835, near present-day William St.

Cbus, which is chaired by former Labor premier Steve Bracks and includes directors of the Construction Forestry Mining and Energy Union on its board, wanted a tower up to 100 levels.

But Planning Minister Richard Wynne gave the green light for just 42 storeys, amid concern about overshadowing of the river.

Cbus Property CEO Adrian Pozzo said construction was due to start in September and should be completed in 2019.

Expressions of interest for the 294-room hotel have been submitted.

And marketing of the Collins Arch apartments will start in September.

Global law firm King & Wood Mallesons is the first confirmed tenant for the new building.

Cr Doyle said the design of the Pantscraper building was remarkable.

“We’re already starting to see, in what is a busy city, a commercial property that is very popular,” he said.

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@JMasanauskas