With the major tower, it’s estimate the end value for the development would be more than $120 million.
Of priority to council between now and March 2012 is refitting the existing historic building into multi-purpose rooms, artist studios, a library, and as spaces for maternal, childcare and family services.
Council also hopes to build one of the two parks, facing City Road.
The school’s street address is 207 – 229 City Road.
According to Heritage Victoria, JH Boyd Girls’ High opened as State School 2686 in 1885, amalgamating with the Eastern Road State School about 45 years later.
In 1932, the school reopened as the JH Boyd Domestic College, in honour of the patron who bequeathed substantial funds so the school could train women “to manage a home correctly”.
The facility’s name was changed again until the site ceased operating as a school in 1985.
Architecturally, Heritage Victoria says the historic property is one of the most ornamental and distinctive within the Education Department’s portfolio.
The main building is the only 19th century State School to have a three storey central block, visible from the Kings Way overpass, which is, effectively the westernmost edge of the site.
Initial funds for the JH Boyd Girls’ High redevelopment will come from a multimillion infrastructure plan announced by Lord Mayor Robert Doyle in May.
Moneys in this fund are also being directed into Queen Victoria Market works, and to building a library in Docklands.
Elsewhere in the immediate Southbank area, developer Baracon is proposing to build a 41-level, 284-unit apartment tower at 133 – 139 City Road, after failing to sell the site to another developer earlier this year.
Last month, developers paid the Australian Red Cross $5 million for a 1448 square metre car park at 127 – 129 Kavanagh Street, directly opposite the southern boundary of JH Boyd Girls High.
Late last year a consortium including Macquarie Real Estate Capital and architect firm Lustig Moar sold a residential development site at 42 – 48 Balston Street nearby.
That 1455 square metre block hit the market again last month.
Savills marketing agent Clinton Baxter is expecting about $11 million this time around. It is being sold with a permit for a 37-level, 361-unit tower that will hug the busy offramp where the West Gate Freeway merges into Kings Way.