A 69-storey mixed-use tower combining residential apartments, co-working spaces and a purpose-built hotel is planned for Southbank.
The $415 million project, by Newcity Development Group, backed by mainland Chinese developer known as Brilliland Group, and designed by Elenberg Fraser, is located 51-65 Clarke Street and was originally green lit in 2017 as residential.
In a telling sign of market conditions in recent years, plans have since been redesigned to offer multiple uses.
“Earlier this year, Newcity met with the team at Elenberg Fraser to discuss revising what was previously a large fully residential tower into a value-packed residential offering which combines a hotel and office component,” Newcity Development Group development director Sam Failla said.
Newcity secured the site for around $30.4 million in 2014.
▲ Plans for 51-65 Clarke Street Southbank
New plans comprise 420 residential apartments for the Southbank development and office spaces over 69 levels.
The group says the hotel component, planned to open in 2024, and will feature a 199-room hotel. A club lounge is located on level 66 of the tower.
“We will be seeking approval on the revised scheme which has reduced number of apartments, the hotel and co work office space later this year.”
The inner Melbourne precinct has seen developer activity after state government announced it has plans to invest more than $200 million in Southbank and arts precinct across the next two years.
Earlier this year, Iwan Sunito’s Crown Group launched its first Melbourne development in a joint venture with G3 Projects for a $140 million apartment development at nearby 175 Sturt Street.
While Melbourne-based PDG Corporation secured an agreement with City of Melbourne on a mixed-use development at 132 Kavanagh Street, which will comprise residential and affordable housing, a boutique hotel, and retail and community facilities.