Tower developments fast-tracked in a bid to revive Victoria’s economy

Major commercial and residential developments worth more than $1b have been fast-tracked in a bid to revive Victoria’s struggling economy.

Renders for city tower newly approved by the state government at 600 Lonsdale St.

Tower developments which will cost more than $1 billion to build have been fast-tracked by the State Government in a bid to kickstart Victoria’s economy and create thousands of jobs.

A $290 million 21-storey office building at 140 Lonsdale St, which will be Australian Federal Police’s new Melbourne headquarters, and a $234 million 68-level apartment tower at 640 Bourke St are among the projects.

Render of an approved development at 640 Bourke St. Picture: Supplied

An artist's impression of the planned new headquarters of the Australian Federal Police.

A proposed office/hotel tower for 600 Lonsdale St, Melbourne.

Planning Minister Richard Wynne has also called in from VCAT a $250 million development at Station St, Caulfield, which comprises a build-to-rent scheme, cheaper housing, shops and offices.

Last month, the government set up a building recovery taskforce to identify and fast-track key shovel-ready projects that would create jobs.

The proposed AFP tower in Lonsdale St is part of Charter Hall’s Wesley Place redevelopment comprising three office buildings, a food and drink precinct and restoration of the Wesley Church.

Approval has also been given to the $50 million refurbishment of the project’s building at 150 Lonsdale St.

A $90 million apartment development at 731 Flinders St, a $180 million, 41-level hotel at 600 Lonsdale St, and a 20-storey office and retail tower costing $60 million at 683 Elizabeth St have also been approved.

Also given the green light is a $60 million residential development at 67 Galada Ave, Parkville, and a $110 million mixed-use development with childcare centre at 1000 La Trobe St, Docklands. Opposition planning spokesman Tim Smith said that some of the projects had previously been approved, and one, 1000 La Trobe St, was already under construction.

An emerging biomedical precinct at 683- 699 Elizabeth St. Picture: Supplied

“Richard Wynne has been sprung and should apologise,” he said.

The government said that amendments to permits were significant decisions the Planning Minister made to realise these projects and make them shovel ready in accordance with the planning rules.Spring Racing Carnival, Caulfield Cup organisers are facing a major shake-up never before seen in its 140 years of running.

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