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Tag Archives: Melbourne CBD Apartment

Are Melbourne Apartments Still a Safe Investment?

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So now what?

After nine years adopting the previous state government’s hugely contentious Melbourne 2030 planning policy – the city’s development landscape is set to change, and apartments may be on the nose.

In one of its first official acts - and as it promised to do before the November 21 election - the Baillieu government has destroyed Labor government planning laws facilitating higher density redevelopment (ie, over three storeys) along all public transport nodes.

In Opposition, Planning Minister Matthew Guy said Melbourne risked becoming dysfunctional, and losing its character permanently, unless suburban apartment construction was curbed.

In power, Mr Guy has committed to a two year audit and consultation program to determine a new model of metropolitan planning.

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Former Royal Saxon Hotel, Melbourne, May be Replaced With Major Apartment Tower

ANOTHER proposal has been lodged that is so large that decision-making power bypasses council to rest with Planning Minister Matthew Guy.

This time, on land behind the historic former Royal Saxon Hotel at 441-447 Elizabeth Street, and affecting an adjoining property at 449 Elizabeth Street, a developer plans to develop a 50-level residential tower with 306 flats but just 119 car park bays.

The property was recently identified in the Melbourne City Council's central heritage review as worthy of protection, being one of the oldest surviving buildings of its type.
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