Launching a new home for $5 million, Melbourne’s Old City has been transformed into a residential neighbourhood.
Key points: The redevelopment of the Old City was part of the $40 million plan to redevelop the cityThe redevelopment is now in its third yearThe Old City will host a community meeting to discuss the development plansNext door, a new apartment development has been announcedThe plan calls for an 11-storey tower with a rooftop terrace and rooftop garden, a five-storeys tower with four residential towers, a three-storeier development with three residential towers and a three storeier development.
The development was first announced by developer Arup in December 2016.
The first two towers, two at Victoria Street and a third at West Street, are now in their third year of construction.
A third tower will be announced later this year.
A public meeting will be held on December 22 for residents and the public to discuss and approve the development plan, and a second public meeting on December 25 for developers and the community.
The developers are looking to create a community of five residential units on the ground floor of the three-story building, with a retail and commercial area on the roof.
The building’s retail space will be divided into four separate levels, with the first two retail floors dedicated to food, and the third retail floor dedicated to a pharmacy and cafe.
Residents will be able to live and work in the retail areas.
The new residential units will be situated on two floors of the building, but there is no minimum height requirement for residents.
The buildings design is for a maximum of 25 metres, but a minimum of five metres is recommended.
The apartments will be available in either a three or four-storeyr building configuration, with both buildings separated by at least three metres.
Residents who live in the existing three- and four-story buildings will be eligible to live in one of the apartments.
There will be an additional two residential towers for those living in the current building.
The residential building at Victoria and West Streets is currently undergoing renovations.
A spokesperson for Arup said they had already completed the design work and were waiting for approval from the council to commence construction.
The planning committee was due to vote on the development in March.