Planning Minister Matthew Guy has approved a $190 million office building at 272 Queen Street in the Melbourne CBD.
The 50 storey building, which includes a 11 storey podium with a mix of ground floor retail has been proposed by local private developer Dale Rose.Guy says the project would create around 580 direct jobs and 3,000 indirect jobs during construction.
“This prominent corner of our central business district will be transformed into a majestic location for a range of businesses, with employment opportunities for up to 2,000 people," says Guy.
“The redevelopment site is located in an evolving area where planning policy encourages development that supports a vibrant and economically competitive central city while making efficient use of existing infrastructure.
“This proposal ticks all the boxes and sets a high benchmark for building design and performance, while increasing competition within the commercial market."
The granting of planning approval for the CBD tower comes as the planning minister comes under fire from Melbourne Lord Mayor Robert Doyle for approving a new tower development on Southbank more than 100 metres taller than the council's preferred height for the site.
The 238-metre tower is due to be built at 54 Clarke Street Southbank.
The Melbourne city council is consider challenging the approval at Victoria's planning tribunal, The Age reported.
The Melbourne CBD is expected to have around 30,000 extra office workers by 2026.
It is estimated that inner Melbourne, including the central business district, will need to accommodate an extra 30,000 people by 2026.
The Victorian government is currently developing a new metropolitan planning strategy to deal with the growth of inner Melbourne.
To have your say on the development of Melbourne’s future go to www.planmelbourne.vic.gov.au