Building heights to reach 12 storeys, $59m price tag revealed in updated plan for huge Prospect Oval Precinct revamp
Prospect Council says it needs to build a mixed-use 12-storey development to help fund its “critical” $60m oval revamp – or rates will skyrocket.
Prospect Council needs to build a $60m, 12-storey lifestyle and sporting precinct or raise rates by up to 30 per cent over the next decade to fund its oval revamp, it says.
On Tuesday, the council examined updated concept designs for its controversial Prospect Oval revamp, which will now cost “at least” $58.9m.
It has declined to release them publicly, but said a mixed-use building on the corner of Main North Rd could now hit 12 storeys, up from eight in a previous plan from June.
The building on the southeast corner will include housing, commercial and community uses.
Mayor Matt Larwood said the concepts demonstrated the financial returns needed to fund both the “critical” upgrades for Prospect Oval and a new multi-use recreational facility.
“The height figures put forward are part of the initial feasibility study - they calculate the financial return required to fund the fix,” he said.
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He said the “significant price tag” needed from Prospect households was the main reason council was pursuing a 12-storey development.
“Either we pursue a measured mixed-use development on a small, currently under-utilised portion of the site, or we’re forced to significantly burden every household in Prospect,” he said.
“Without development revenue, the only way to fund the necessary upgrades is through increasing rates by a crippling 15-30 per cent in addition to CPI over the next 10 years.
“The mixed-use component is the fiscally responsible path that allows us to deliver high-quality facilities for our community without unsustainable rate increases.”
Mr Larwood called existing oval facilities “unacceptable” saying large areas do not comply with disability laws.
“We’re dealing with everything from severely deteriorated clubrooms for the croquet and cricket clubs and unsuitable women’s change room facilities, right through to the viewing mounds surrounding Prospect Oval containing contaminated soil.”
The new masterplan still features a multipurpose indoor community and sports building, aerobridge, croquet clubrooms and courts, and upgraded grandstand and football clubroom.
A second, lower building on the eastern side would provide community space on the ground floor and “commercial, aged care or other complementary uses on upper levels”.
Menzies Crescent will be partially closed for a pedestrian plaza space, and the cricket nets moved closer to the indoor community and sports building.
Buildings near residential streets would range from two to three storeys high, and rise to 12 along Main North Rd.
Previously, council officers proposed a code amendment to allow buildings above local five-storey limits.
Mr Larwood said the development was not finalised and all plans would go to public consultation.
Community consultation results and a draft code amendment go to council’s public workshop next month.
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Originally published as Building heights to reach 12 storeys, $59m price tag revealed in updated plan for huge Prospect Oval Precinct revamp
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