Melbourne Quarter development takes shape
Lendlease has completed the first stage of its $2 billion mixed-use Melbourne Quarter project that is set to link the western edge of the CBD with the Docklands.
The group finished a deck that will be part of the foundations of an elevated Skypark above Collins St, and says construction is progressing on its first commercial tower, One Melbourne Quarter.
A second of three proposed office towers received planning approval in March.
Commercial Insights: Subscribe to receive the latest news and updates
Melbourne Quarter is expected to house 12,000 workers and 3000 residents when complete, across a total of seven office and apartment towers.
The project is set to be more than 50% public space and will include retailers, bars, restaurants and a green city square.
Lendlease managing director for urban regeneration and infrastructure development Mark Menhinnitt says the development will bridge the gap between the CBD and Docklands as the commercial centre of the city moved west.
“As Melbourne Quarter becomes more visible on the city’s skyline, it signals Lendlease’s confidence in Melbourne’s commercial growth in the Southern Cross Precinct and the continued appetite for smarter, more energy-efficient offices,” Menhinnitt says.
Lendlease itself and engineering heavyweight Arup will move to One Melbourne Quarter next year.
The project is on the verge of winning more blue-chip tenants that could include power retailer EnergyAustralia and financial services giant AMP.
Victorian Planning Minister Richard Wynne inspected the deck and says the development is a “once-in-a-generation transformation of the CBD”.
The project comes amid a wave of activity at the street’s west end.
Mirvac is developing two towers nearby — the Olderfleet building at 477 Collins St and 664 Collins St — while Cbus Property’s Collins Arch project is at 433-439 Collins St.
This article originally appeared on www.theaustralian.com.au/property.