VICTORIA GEARING UP FOR ECONOMIC RECOVERY AS GOVERNMENT ANNOUNCES MAJOR PROJECTS

Victoria’s economic recovery is set to be bolstered by the acceleration of more than $1 billion worth of building and development projects, creating jobs and stimulating growth in metropolitan, rural and regional Victoria.

The major projects announced include:

• $250m 8-storey commercial hub at Toorak village with a ground floor supermarket and retail precinct
• $206m 3-tower development at 2-28 Montague and 80 Munro Street South Melbourne
• $100m 36-storey mixed-use development at 203-205 Normanby Road Southbank
• Two 12-storey apartment buildings at McCrae Street Dandenong valued at $70m
• A new aged care facility on Greville Street Prahran worth $60.5m
• A 75-megawatt solar farm in Toongabbie in the Latrobe Valley worth $110m
• A 20-storey commercial and retail development at 118 Bertie Street, Port Melbourne at $66 m
• 14-storey residential building with 63 dwellings at 1-3 Hays Place, Geelong valued at $17m
• $49.5m 12-storey development including a hotel, gym, and offices at 81-89 Rupert Street, Collingwood
• $4.67 million Social Housing development at Wilma Avenue Dandenong.

Treasurer Tim Pallas says, “Victoria’s building and development sector is a key driver of our economy and these projects signal our commitment to give this industry the support it needs to make it through to the other side of the pandemic.” 

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This content is derived from the article “Victorian Government announces more major projects to build economic recovery” by Market Insights | Thursday 10^th September 2020.