The State Government has approved the next stage of plans to revitalise Melbourne’s iconic Queen Victoria Market which it claims will secure its future as an iconic social and cultural landmark, while delivering hundreds of new homes.
Minister for Planning Sonya Kilkenny has announced the planning permits for the $1.7 billion mixed-use development have been approved.
Delivered in partnership with Lendlease, Scape and the City of Melbourne – housing will be a key feature of the development with plans to deliver around 560 build to rent apartments, with 15 per cent dedicated to “affordable housing”.
Student housing provider Scape will also deliver an additional 1100 beds for university students.
In addition to new housing, the redevelopment will create more space for shops, including along the restored Franklin Street, and a new community space fronting Queen Street.
At the heart of the precinct will be Market Square—a 1.8-hectare public park designed to serve as a gathering place for the community and visitors where they can enjoy events, festivals, and outdoor activities.
The development will transform the internationally renowned market precinct – attracting new residents, workers, customers and visitors to the area.
With a legacy dating back to 1878, Queen Victoria Market is an iconic Melbourne landmark and stringent heritage controls will be upheld to preserve its unique character.
