The application for Melbourne development company R. Corporation's $252 million twin-tower apartment and hotel project in Fishermans Bend has been accepted.
Despite initial council rejection and a visit to the Victorian Civil and Administrative Tribunal, this week, negotiations with the state government has resulted in approval being granted for Australia’s largest urban renewal area. Oxford University Press owned the site, and used it as for a warehouse and office. Melbourne-based development company R. Corporation bought the land for a speculated $35 million in 2016.
Located at 253-273 Normanby Road in South Melbourne, the twin towers are 37- and 40-storeys, and were designed by Plus Architecture.
A $252 million project featuring 824 apartments, a 153-room hotel and 2,000 square metres of retail space was initially proposed in April 2017. But this application was not approved by Planning Minister Richard Wynne, so the developer sought VCAT’s help, which involved amending the plans to reduce the large shadows that were cast from that proposal. Increased options for bedding arrangements in each dwelling was also required.
To provide increased housing options for the neighbourhood, Wynne required at least 30 per cent of the project’s apartments were three-bedroom.
“We need our new neighbourhoods to have a good mix of small and large apartments with affordable housing to suit families of all shapes and sizes,” Wynne said.
The revised and approved design is two towers of mixed-use development with 832 dwellings consisting of 31 percent one-bedroom, 57 percent two bedroom, and 12 percent three bedroom units.