Victoria’s highly publicised plan to build a $30 billion ‘silicon valley’ in Melbourne’s west has been shelved.
The Andrews government is reportedly planning a multi-million dollar settlement for backers of the Australian Education City proposal, otherwise known as the East Werribee Employment Precinct.
Earmarked for a 412 hectare publicly-owned site, about 32 kilometres from the CBD, the proposal was set to include a town centre, four schools including a 40,000-place university campus, an arts, culture and entertainment precinct and an underground train line connecting the precinct to the Werribee line.
Australian Education City would have been identified by human-made waterways surrounded by major skyscrapers.
All up, some six million square metres of residential, commercial and community buildings would have been developed as part of the plan which would have housed about 80,000 permanent residents.
Cisco, Honeywell, IBM, Jacobs, JP Morgan, PWC and Telstra were amongst some of the investor partners.