Building Recovery Taskforce Continues Fast Tracking

The Victorian Government has fast tracked more than $1.2 billion worth of building and development projects as part of its ongoing work to kickstart Victoria’s economy and create thousands of jobs.

The Building Victoria’s Recovery Taskforce was established last month to identify and accelerate shovel-ready priority projects that will deliver short and long-term jobs. The latest major projects to receive approvals include:

  • A $290 million, 21 storey office building at 140 Lonsdale Street, which will become the Melbourne headquarters of the Australian Federal Police
  • A 68-storey development at 640 Bourke Street, worth $234 million, including 857 apartments, retail space and an art gallery
  • A $180 million, 41-storey hotel development at 600 Lonsdale Street featuring 288 hotel rooms, as well as office and retail space
  • A 20 storey, commercial office and retail building at 683-699 Elizabeth St located in an emerging biomedical precinct worth $60 million
  • A $60 million residential development on the former Commonwealth Games village site at 67-81 Galada Avenue, Parkville.

Together, these projects will create thousands of construction jobs and house thousands more – driving economic activity in the inner-city.

Planning Minister Richard Wynne has also called in from VCAT a $250 million development at 31 Station Street Caulfield, which includes a build-to-rent scheme, affordable housing and a supermarket, retail and office space. The call in means the Minister will make the final decision on the approval of this important project.

The Taskforce is calling for submissions of priority projects of state and regional significance that could be considered for development assistance, including those that may be awaiting a decision at VCAT or a local council.

Priority projects are being assessed for their capacity to protect and create jobs, stimulate economic recovery, and contribute to broader social objectives like affordable and social housing.

Today’s announcement builds on the Government’s $2.7 billion Building Works package of shovel-ready projects across the state that will create 3,700 direct jobs and thousands more across our supply chains, while also pumping extra dollars back into our economy.

To view the full eligibility criteria for the Building Victoria Recovery Taskforce and to make a submission, visit planning.vic.gov.au/policy-and-strategy/building-victorias-recovery-taskforce.

Quotes attributable to Minister for Planning Richard Wynne

“Our taskforce is working hard to deliver priority projects in a timely manner for the benefit of the building and development industry and for all Victorians.”

“As the industry deals with the unprecedented challenges of the pandemic, we’re making sure priority projects are delivered more efficiently and fast tracked where appropriate.”

 “Victoria remains open for business and our dedicated Taskforce is making sure a pipeline of projects continue to stimulate the economy and create jobs.”