Spencer Street – realestatesource

IT USED to be considered the dankest end of the Melbourne CBD – but now two former industrial sites opposite the Southern Cross train station are to make way for some ten swank skyscrapers accommodating some 5500 apartments.

Yesterday Victorian planning minister Matthew Guy approved an $800 million redevelopment of the former Age newspaper site at 250 Spencer Street.

The proposal – seen in ISPT’s 2012 annual report – seeks to add six skyscrapers and 2994 flats to the block which for years houses The Age newspaper.

Victoria

Planning Minister Justin Madden Approves Massive Upper West Side Project

September 16, 2010 Marc Pallisco Far East Consortium, Lonsdale Street, Melbourne CBD Retail, New Melbourne CBD Apartment Tower, Spencer Street

HONG Kong based developer Far East Consortium is ready to redevelop one of the Melbourne CBD’s biggest remaining development sites.

Planning Minister Justin Madden this week approved the construction of a $1 billion-plus, multi-skyscraper compound, to replace the notorious eyesore known between 1950 and 2008 as the Lonsdale Street power station, at the Docklands-CBD suburb border, opposite the Southern Cross train station.

The Upper West Side complex, as it has been marketed, will include four major skyscrapers between 31 and 50 levels – linked by a one hectare podium rooftop garden – with a veggie patch and children’s play area. Retail will flank the ground levels.