Yarra north bank $450m Riverlee project approved by City of Melbourne

A $450 MILLION redevelopment on the Yarra’s north bank has won Melbourne City Council approval with a higher tower proposed.

The proposed $450 million north bank development by Riverlee. Picture: Supplied

A $450 MILLION Yarra River redevelopment has won Melbourne city council approval for a higher proposed tower.

Developer Riverlee’s transformation of the Northbank area will result in historic Goods Shed No.5 becoming a function hall, with a 17-storey hotel and apartment tower behind it.

FIRST STAGE OF NORTH BANK GOODS SHED PROJECT TO BEGIN WITH WHARF RESTORATION

The original permit called for a 14-storey building, but this will be amended.

The precinct is the last piece of undeveloped land along the river southwest of the CBD.

Riverlee development director David Lee said the design, by architects Fender Katsalidis and landscape firm Oculus, took note of the site’s social and historic significance.

“The site has a fascinating industrial past, and is still rich with tangible history on-site, which we are planning to retain and restore,” Mr Lee said.

It will revitalise 220m of the wharf, which dates to 1855, and restore a historic crane.

“With plans for a generous public park and premier residential, hotel, function centre and retail amenities, Northbank will be an extension of Melbourne’s vibrant culture,” Mr Lee said.

The hotel will have 231 rooms and 182 apartments will be located on levels 8-17.

A city council report said although the tower would be bigger than first planned, the degree of overshadowing was consistent with the already approved development due to the design and proposed setbacks.

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