Victoria Shovel-Ready Projects: $1.2bn Construction Boost Approved
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Victoria’s shovel-ready construction projects have received a significant boost as Premier Daniel Andrews approves $1.2 billion worth of Victoria shovel-ready projects to stimulate economic growth and job creation. This major investment in Victoria’s infrastructure pipeline aims to fast-track urban development across Melbourne.
The decision, overseen by the Building Victoria’s Recovery Taskforce, will accelerate five Victoria shovel-ready projects across the city, ensuring the state remains a leader in urban development and infrastructure expansion.
These approvals follow earlier green lights for the country’s tallest residential tower and three other mega-projects in late April. The taskforce, responsible for identifying opportunities to boost Victoria’s building and development sector in the short, medium, and long term, has now given another tranche of Victoria $1.2bn construction projects the go-ahead.
Major Approved Victoria Shovel-Ready Construction Projects
The newly approved developments include:
- 140 Lonsdale Street: A $290 million, 21-storey office building by Charter Hall, set to become the Melbourne headquarters for the Australian Federal Police.
- 640 Bourke Street: A $234 million, 68-storey residential tower featuring 857 apartments, retail space, and an art gallery.
- 600 Lonsdale Street: A $180 million Skidmore, Owings & Merrill and Fender Katsalidis-designed 41-storey skyscraper with 288 hotel rooms, office, and retail space.
- 683-699 Elizabeth Street: A 20-storey tower providing 17,000sq m of office space.
- 67-81 Galada Avenue, Parkville: A $60 million residential development on the former Commonwealth Games village site.
Supporting Victoria’s Economic Recovery Through Infrastructure Projects
Minister for Planning Richard Wynne emphasized the importance of these Victoria shovel-ready projects, stating that these priority approvals would help the construction industry navigate the challenges posed by the pandemic.
“Victoria remains open for business, and our dedicated Taskforce is ensuring that a pipeline of shovel-ready construction projects continues to drive economic growth and job creation,” Wynne said.
Additional $250 Million Development and Victoria Urban Expansion Plans
Alongside the $1.2bn Victoria construction projects, Wynne has called in a $250 million development at 31 Station Street, Caulfield. This project includes a build-to-rent scheme, affordable housing, a supermarket, retail, and office space, further reinforcing the state’s commitment to infrastructure expansion.
Strengthening Victoria’s Infrastructure Pipeline and Construction Growth
These shovel-ready projects in Victoria are part of the government’s broader $2.7 billion building works package, which aims to create 3,700 jobs across supply chains and ensure continued economic momentum.
With a strong pipeline of Victoria $1.2bn construction projects now moving forward, the state is poised for a significant post-pandemic recovery, fostering investment and long-term economic resilience.
This article appeared in The Urban Developer.
