Major 17-Level Apartment Tower Proposed For Essendon

A project of such height has not made it to the Moonee Valley region despite recent ambitious proposals along Keilor and Mount Alexander roads – both bigger, busier roads serviced by trams.

The tallest proposed apartment towers in the Moonee Valley area, speculated at 20 levels and earmarked as part of the racecourse redevelopment near Puckle Street, are being objected by local member and former planning minister Justin Madden.

Mr Madden personally funded anti-development boards prominent on the front fences of homes in Moonee Ponds and Bomberland right now.

As minister Mr Madden aggressively implemented the Bracks-Brumby government’s contentious Melbourne 2030 planning policy which the incoming minister Matthew Guy scrapped, but which developers and agents claim is still alive today.

Melbourne 2030 aimed to build high density apartments near transport nodes in all suburbs regardless of its proximity to the CBD. High density apartment complexes are part of new outer suburbs announced by the minister this week.

Between the Glenbervie and Strathmore train stations (two of the closest stops measured by distance in the metropolitan network) and near the Pascoe Vale South suburb border, the 1.5-hectare Essendon site at 299 Pascoe Vale Road sold to its current owners for $11.45 million in May 2010.

The proposed mixed use development, images of which have started appearing on industry websites, is speculated could have an end value of more than $100 million. A spokesman for the designer, Architecton, asserted the proposal is in early planning. Council has not yet received an application.

Currently accommodating a gym and showrooms the Essendon complex was returning annual rent of $940,000 when it sold.

 

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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