FOOTSCRAY’S high-rise explosion continues with a new 26-storey tower proposed for a prime riverside site.
The $200 million mixed-use development is slated for 2 Hopkins Street, near Hopetoun Bridge on the banks of the Maribyrnong River.
The multi-tower proposal, now with Planning Minister Matthew Guy, would be the third Joseph Road precinct project to break Maribyrnong Council’s 25-storey maximum height controls.
The project has been referred by the minister to the council and a decision will be made within a fortnight.
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The project marks the first major test of the state government’s pledge to protect the Yarra and Maribyrnong rivers from overdevelopment.
The Weekly reported Mr Guy as saying the tighter planning controls introduced last month would lead to stricter height restrictions and setbacks along the river.
“[The planning amendment] will recognise the environmental, landscape and cultural values of the Maribyrnong River as well as its aesthetic, open space, recreation and tourism importance,” Mr Guy said.
With up to 744 apartments, the proposed development rivals recently approved neighbouring projects including a 25-storey Moreland Street tower and a $318 million Hopkins Road development featuring twin 32-storey towers and nearly 1000 apartments.
Places Victoria is also in the early stages of redeveloping the 1.3-hectare LeMans Toyota site at 4 Hopkins Street. “These investigations will continue into the new year,” a PV spokeswoman said.
Implementation of the new riverside planning controls would be “at the discretion of the responsible planning authority”.
Places Victoria is also seeking a development partner for the 0.9-hectare Binks Ford site alongside Footscray station, tipped for medium and high-density residential development that could include a deck over the rail tracks.
“Once a joint venture partner has been appointed, Places Victoria and the development partner will jointly prepare a master plan for the site,” the spokeswoman said.
Expressions of interest from development partners close tomorrow, with contract negotiations expected in March.
