Capitol Grand development gets go ahead
The 50-storey Capitol Grand development on the corner of Melbourne’s Chapel St and Toorak Rd has been approved by the Victorian Civil and Administrative Tribunal and will become the tallest building outside of the CBD.
Developer Larry Kestelman’s proposed Capitol Grand on the old the Capitol Bakery site in South Yarra has been designed by Bates Smart architects and will have 450 apartments. It will consist of two towers linked together by a retail precinct.
Mr Kestelman, the founder of Dodo Internet, paid $3 million to Oscar-winning actor Charlize Theron for 1½ hours to launch the project at the Australian Grand Prix in March.
VCAT found “the proposed development presents as an iconic, slender, sculptured building that would be an architectural landmark”.
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