The development will feature two towers rising to 38 storeys and 10 storeys which includes an 80-room hotel, 500 car park spots for market visitors, a childcare centre, and homes close to the jobs, services and public transport that Victorians need.

The additional car parks for market visitors will mean existing car park space can be turned into valuable open space for festivals, street markets and other community events.

Minister for Planning Richard Wynne said, “We’ve carefully considered this proposal and worked hard with the applicant to ensure any development protects one of Melbourne’s most popular areas and treasured destinations.”

Developed by PDG, the project will protect the treasured heritage, with the façade of the historic Mercat Cross Hotel to be preserved. It will boast the highest standards of sustainability and design.

Apartments being built as part of the project will comply with the Labor Government’s Better Apartments Design Standards, which spell an end to dog-box sized apartments with no ventilation, space or natural light.

“This project will create affordable homes where people want to live, will create construction and supply jobs for Victorians and will deliver open space for popular events.”

“We’ve said it from the start: There’s nothing more important than the Queen Victoria Market, and we’ll always protect it," Wynne concludes.

Click here to view the PDG website.

See also:

TFE Hotels to open its tenth Vibe Hotel in Melbourne CBD

Hyatt Place coming to Melbourne in 2020

First clean energy investment in Australia's hotel sector

Hyatt Centric hotel coming to Melbourne in 2020