YCH, working in partnership with the State Government, beat a throng of established residential developers to buy the property at 660-670 Elizabeth Street, opposite Melbourne City Toyota. The 1600-square-metre site was sold by Ridgeway Plumbing director Phil Ridgeway in April for about $8.5 million.
YCH has lodged plans for a high-rise apartment building with about 160 units. "The building will accommodate a mixed-income community, including people with a background of homelessness and low moderate income people," said YCH chief executive officer Rob Leslie. The building will have 24/7 on-site staff support aimed at helping residents to find their feet in the community.
It’s been reported Grocon chief executive officer Daniel Grollo is building the apartment building for the YCH at a heavy discount.