The Victorian Coalition Government has rezoned 240 hectares to Capital City Zone to kickstart the Fishermans Bend urban renewal area, Minister for Planning Matthew Guy announced today.
"The bold initiative has also been declared a project of State Significance under the Planning and Environment Act and leads the way for Melbourne to be an Australian leader in inner city urban renewal," Mr Guy said.
"This is an area 10 times the size of what Sydney can manage in Barangaroo and is the largest inner city rezoning in Australian history.
"Its 240 hectares compares to the Hoddle grid at 160 hectares, Southbank's 100 hectares, and 140 hectares in Docklands. Melbourne's CBD now extends from Spring Street to Williamstown Road, encompassing the historical Hoddle grid, Southbank, Docklands and now Fishermans Bend.
"This rezoning expands Melbourne's capital city zone by more than 50 per cent and is expected to accommodate around 25,000 jobs and 50,000 residents."
The construction work is expected to provide thousands of additional jobs in the high rise building industry over the coming years with 5,000 apartments to be built in the next 10 years with an economic impact of approximately $1.5 billion and creating 13,500 construction jobs.
"There will also be significant productivity benefits from more people locating close to jobs and services in the CBD, Southbank and Docklands," Mr Guy said.
"Urban renewal in Fishermans Bend will boost Melbourne's economic growth and secure jobs and investment in Victoria, not just now but for the next 30 years," Mr Guy said.
"This area will be home to high rise residential towers, modern terraced townhouses, campus-style offices, warehouse lofts, a vertical school, small laneways, local parks, new art galleries, and all kinds of new opportunities."
Amendment C102 to the Port Phillip Planning Scheme and C170 to the Melbourne Planning Scheme have been signed by Minister Guy and will be gazetted shortly.
Development applications within the Fishermans Bend area can now be submitted.
"Melbourne has the best opportunities for new construction in Australia, and I look forward to seeing creative proposals coming in soon," Mr Guy said.
Development contributions will be required through a Development Contributions Plan and agreements between developers and the government.
Minister Guy said the previously announced feasibility study into schools in Port Melbourne would assist in informing decisions around the sequencing of schools across the wider precinct.
"I also want to encourage non-government schools to consider locating in this precinct to serve a booming inner city community," Mr Guy said.
"The site is in the best location for high density living, being within easy walking and cycling distance of the CBD, and on the doorstep of the 109 tram and the Westgate Freeway."
The Fishermans Bend urban renewal area will have four precincts:
- Lorimer Precinct is located in the City of Melbourne on the eastern side of the Bolte Bridge between Lorimer Street and the Westgate Freeway and was named after Sir James Lorimer, who was President of the Melbourne Chamber of Commerce in 1868-70, founding chairman of the Melbourne Harbour Trust, a founder of the Free Trade League, and member of the Victorian Parliament.
- Montague, Sandridge, and Wirraway Precincts are in the City of Port Phillip. Sandridge was the original name for Port Melbourne. Wirraway is named for the iconic Australian military aircraft built by the Commonwealth Aircraft Corporation at Fishermans Bend.
Places Victoria will play a key role in coordinating structure planning for the Fishermans Bend urban renewal area.
The Capital City Zone is designed to facilitate major urban development in the precinct. To give certainty, the Minister for Planning will be responsible for major applications which are more than four storeys, more than 60 dwellings, over 10,000 square metres in floorspace, or have a development value of more than $10 million. Careful consideration will be given for any uses which may have an impact on existing industry in the area.
In a first for the Capital City Zone, there will be increased rights for residents, with notice and review rights for uses which may be of community concern in the rezoned Fishermans Bend area. This includes applications for nightclubs, taverns, brothels and adult bookshops.
"Fishermans Bend will be Australia's first inner city urban growth area and the Coalition Government is providing opportunities for Melburnians to live in both inner city locations and suburban locations," Mr Guy said.