Tall & Urban News

Submitted plans for projects in Fishermans Bend, a sprawling urban renewal site on the southern edge of Melbourne’s CBD, have been surging since 2017 after the release of the master plan framework, which noted that parts of the area could have population densities of 1,300 people per hectare.

Last year, planning minister Richard Wynne froze 26 high-rise applications pending the development of new permanent planning controls, despite previously having said applications would be assessed according to interim controls.

Close to AU$4.5 billion (US$3.19 billion) worth of high-rise apartment projects have subsequently been paused, drawing intense criticism from industry leaders who saw existing development applications delayed and significant costs lost. Developers have also argued that a large area so close to the city center should be built more densely in a city growing by more than 120,000 people per year.

Developers who have projects on hold could now face up to nine months of individual assessments for planning permits or land transactions, as rules about infrastructure contributions continue to be drawn up. Those waiting for clarification on the key infrastructure contributions plan, determining how much developers must pay to help fund social and physical infrastructure in the precinct, will have to wait a little longer.

Fishermans Bend represents Australia’s largest urban renewal project and seeks to capitalize on its proximity to the Melbourne CBD, Docklands and Southbank. The mostly industrial precinct, wedged between the Yarra River, Port of Melbourne and the bay, will contain a cluster of soaring apartment towers once realized as a new “sustainable” suburb.

The 480-hectare urban renewal precinct spans two municipalities across the City of Melbourne and the City of Port Phillip and would act as an extension of Southbank and Docklands. The masterplan includes open and green space, schools, kindergartens, bike path and walking trails for a site that encompasses twice the size of Melbourne’s CBD.

By 2050 the development is expected to be home to around 80,000 residents and provide jobs for a further 80,000 people.

For more on this story, go to The Urban Developer