$187m tower planned to be predominantly residential with a commercial and retail offering

Development giant Lendlease wants to construct a 24-storey apartment tower at what’s described as one of the few remaining vacant blocks in Docklands.

An artist's impression of the new build-to-rent tower proposed for 899-913 Collins St, Docklands.

A new waterside park and wharf would be built at Docklands under $187 million plans for a 24-storey “build-to-rent” residential complex.

Development giant Lendlease wants to construct a 499 apartment tower — one of the biggest build-to-rent projects in Melbourne — at 899-913 Collins St, Docklands.

The Victoria Harbour development plan “envisages a predominantly residential building with a commercial and retail offering to Collins St and to Australia Wharf.’’

It would feature a pool lounge and spa, in and outdoor yoga studios, business suite, BBQ area, private resident’s terraces, gym and a 20-25m high podium.

The $187m development would be 24 storeys tall. Docklands.

Plans for the tower — about 80m tall, with a gross floor area of 45,296 sqm — are expected to be supported by City of Melbourne councillors at a meeting on Tuesday night.

Deputy Mayor Nick Reece said the application would be “carefully considered … particularly how it will benefit the wider Docklands community and precinct.”

“This is a major proposal for a new build-to-rent development on one of the few remaining vacant blocks in Docklands,’’ he said.

“Build-to-rent is fast becoming an important part of our housing mix in Australia and Melbourne is leading the pack when it comes to delivering build-to-rent apartments.’’

The tower would be about 80m tall, with a gross floor area of 45,296 sqm.

The tower, designed by Cox Architecture, would include indoor and outdoor dining and garden spaces at level 23.

The “Bourke Dock park’’ will form part of the city’s Greenline project and could also include a children’s playground.

Build-to-rent apartments are typically owned and managed by a single entity and rented out over to mid to long term periods.

They are growing increasingly popular amid a rental, interest rate and cost of living crisis, with 4700 apartments completed or in development and 15,400 slated for completion by the end of 2024.

Lord Mayor Sally Capp said Docklands was “one of Melbourne’s premier sites for investment and development, as proven by this Build to Rent proposal.”

“With its close proximity to the city, stunning waterfront vistas and public transport options, Docklands is an obvious choice for residential builds, offices and new businesses,’’ she said.

Planning Minister Sonya Kilkenny will decide whether it goes ahead.