Queen Victoria Market On Track For Huge Revamp

27 March 2024

The Allan Labor Government has approved plans that will pave the way for a revamp of Melbourne's beloved Queen Victoria Market, ensuring it remains an iconic social and cultural landmark.

Minister for Planning Sonya Kilkenny today announced the approval of a development plan and early works permit, setting the stage for the transformative $1.7 billion project.

The project, a partnership with Lendlease and the City of Melbourne, is set to create thousands of jobs and draw in more residents, workers, and visitors to the area.

Housing will be a key feature of the development with plans to deliver around 560 build to rent apartments, with 15 per cent dedicated to affordable housing, and student housing provider Scape to deliver an additional 1100 beds for university students.

The development supports the Labor Government’s landmark Housing Statement target – enabling 800,000 new homes to be built over the next decade, in areas where people want to live – close to jobs, transport and services.

Open spaces, cycling paths, retail stores along the restored Franklin Street Stores, and a community and cultural space fronting Queen Street will form part of the project.

This includes a new Market Square, a 1.8 hectare park, which will provide a meeting place for residents, locals, and visitors.

Early works allow excavation to begin to create carparks on the basement of the project’s towers, permit applications for the rest of the building will be assessed in relation to the project’s development plan.

With a legacy dating back to 1878, Queen Victoria Market is an iconic Melbourne landmark and stringent heritage controls will be upheld to preserve its unique character.

Quote attributable to Minister for Planning Sonya Kilkenny

“Building more quality homes around places like the iconic Queen Victoria Market means more Victorians can benefit from our thriving, liveable and vibrant capital city, with thousands of jobs nearby.”

Quote attributable to Lord Mayor Sally Capp

“Gurrowa Place will become home to thousands of new residents, attract more market customers and boost business for traders – while unlocking one of the largest open spaces in the CBD.”

Media contact: Ruby Wallace 041547643 |

Reviewed 27 March 2024

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