Caydon Property Group has welcomed the Victorian Civil and Administrative Tribunal’s decision to grant an amended permit for stage one of its proposed $700 million residential development on the corner of Hall and Margaret Streets in Moonee Ponds.
The permit clears the way for Caydon’s Mason Sq development to proceed with construction set to begin in June.
Caydon Principal Joe Russo said the collaborative process Caydon went through with the City of Moonee Valley was further evidence of the developer’s commitment to working with responsible authorities and other stakeholders to achieve good planning outcomes.
“Throughout the planning process we’ve listened carefully to the concerns of the Council, residents and other stakeholders and we are convinced that the amendments have ultimately produced an even better planning outcome for the area,” Mr Russo said.
“The Moonee Ponds community will benefit from 28% of the 1.4 hectare site being available for public use. This will take the form of wider footpaths, new laneways through the development improving connection between Homer, Hall and Puckle Streets and a fantastic public urban plaza to be utilised by the whole community.
“This includes a major pedestrian link where people can walk, rest and enjoy the pleasant environment. This will be delivered back to Council upon project completion, however Caydon will fund and create the plaza and associated infrastructure, including a children’s play area and space for pop up markets, public performances and other activities the community can enjoy together.”
Caydon has had strong interest in the Mason Sq development with over 200 dwellings sold. With the granting of the amended permit, Caydon is confident remaining dwellings will sell quickly because of the high quality of the development and immense appeal of Moonee Ponds for aspiring home-owners.
The development includes 612 one, two and three bedroom apartments; 580 car spaces; and storage for 258 bicycles.