More Major Projects to Build Our Economic Recovery

The state’s economic recovery will be further boosted by the fast tracking of over $1 billion worth of building and development projects set to generate jobs and increase growth in metropolitan, rural and regional Victoria.

Planning Minister Richard Wynne has increased an already extensive pipeline of shovel ready projects by authorizing another round of new planning permits worth $933 million. They include:

• $250m 8-storey commercial hub at Toorak village with a ground floor supermarket and retail precinct
• $206m 3-tower development at 2-28 Montague and 80 Munro Street South Melbourne
• $100m 36-storey mixed-use development at 203-205 Normanby Road Southbank
• Two 12-storey apartment buildings at McCrae Street Dandenong valued at $70m
• A new aged care facility on Greville Street Prahran worth $60.5m
• A 75-megawatt solar farm in Toongabbie in the Latrobe Valley worth $110m
• A 20-storey commercial and retail development at 118 Bertie Street, Port Melbourne at $66 m
• 14-storey residential building with 63 dwellings at 1-3 Hays Place, Geelong valued at $17m
• $49.5m 12-storey development including a hotel, gym, and offices at 81-89 Rupert Street, Collingwood
• $4.67 million Social Housing development at Wilma Avenue Dandenong.

Over $100 million worth of revised planning permits which are necessary for significant alterations to a development have also been given the green light. Since March 135 new and modified planning permits have been granted with a total development value of more than $7 billion, assisting in securing employment for our building and construction industry.

The Minister has also called in an application for a Lilydale retirement village and an application for 14 new cabins as part of the White Horse Village development at Mount Buller Alpine Resort.

The Building Victoria’s Recovery Taskforce fast-track function will continue for at least the next 12 months with a devoted team continuing to review and assess important projects for faster approval, with the criteria for intervention refined to better reflect current priorities for Victoria’s economic recovery.

Priority projects are being assessed for their capacity to protect and generate jobs, stimulate economic growth and contribute to broader social objectives like affordable housing and emissions reduction. The construction industry is still operating under Stage 4 restrictions with strict safety measures in place to slow the spread of coronavirus.

Quote attributable to Minister for Planning Richard Wynne

“It’s more important than ever we continue adding to our pipeline of shovel ready projects to create jobs and stimulate the economy as we get to the other side of this second wave.”

Quote attributable to Treasurer Tim Pallas

“Victoria’s building and development sector is a key driver of our economy and these projects signal our commitment to give this industry the support it needs to make it through to the other side of the pandemic.”