The City of Melbourne is seeking a private sector partner to create a mixed-use development as part of its Queen Victoria Market precinct redevelopment.
The development will involve residential apartments with affordable housing, retail, community facilities and customer car parking.
The council is now seeking expressions of interest from companies or consortia to develop what is one of the largest remaining freehold development sites in the city at 6329 square metres.
Lord Mayor Robert Doyle said the land, purchased by the council in 2014 for $76 million, was a key part of the precinct renewal.
“In 2013, Council committed to the largest investment in its history: up to $250 million to renew the Queen Victoria Market,” Mr Doyle said. “The development of this site will help fund the renewal program.
“This is a rare opportunity for the private sector to partner with Council to deliver an exemplar mixed-use development with all the hallmarks of what we consider smart development: residential apartments, childcare, family services, commercial and retail uses and the latest in environmental sustainability.”
The development will also involve car parking as part of a commitment to maintain the current 720 parks.
“The City of Melbourne has a proud track record of delivering major projects in partnership with leading developers such as QV, Drill Hall and City Square,” Mr Doyle said.
“This project is one of the first in a series of renewal works that, depending on their scope, could generate 9000 new jobs at the market, 12,000 jobs in the precinct and thousands of construction jobs.”
After the Expressions of Interest process, the City of Melbourne will shortlist developers to proceed to the second stage, a Request for Proposal process, expected to commence in October.
See here for more information or to register an Expression of Interest.