Melbourne gets approval for 5 towers

On 25 February Melbourne’s planning minister Matthew Guy has approved five major tower projects in the city with an estimated value of $557 million.

The projects will create more than 2000 apartments.

They are:

464 Collins St – a pencil-thin $100 million, 55-storey apartment tower by developer Equiset Grollo;

420 Spencer St – a National Trust-recognised, 1930s building originally built for Australian Glass Manufacturers – 38 storeys with 438 apartments;

127-141 A’Beckett St – a 63-storey, 632-unit tower will reportedly cost $164 million;

398 Elizabeth St – 466 apartments over 55 storeys at a cost of $135 million; and

365 Docklands Drive – an 18-storey, 360-unit tower.

Mr Guy said, “Demand in Melbourne’s high-rise, high-density market is strong with recent surveys showing Melbourne now having more apartments being sold than Surfers Paradise.

“Melburnians have made it clear that they want their suburbs protected from high-rise apartment development. To achieve this we’re delivering density in defined locations like Melbourne’s CBD and the Docklands, not in our quiet suburban streets.”

Image: 464 Collins Street

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