Melbourne is on track to have $2.5 billion in development applications lodged during 2022.
It is a massive increase from last year, when 950 planning applications were received for a total worth of $800 million.
More than $1.5 billion in state-assessed development projects were proposed for the city and its districts this year while the city is set to assess more than $1 billion in new DAs lodged directly with it.
To date more than 600 planning applications worth an estimated $800 million have been assessed this year.
New developments accounted for 85 per cent of the applications—amendments to existing permits made up the remainder.
The last time the figures hit more than $1 billion was prior to the pandemic in 2019 when 1200 applications worth $1.1 billion were received.
“It’s a testament to the resilience of Melbourne that the city has attracted more than $2.5 billion in new developments in a single year,” deputy lord mayor Nicholas Reece said.
“After so much Covid disruption, it’s heartening to see developers continuing to invest heavily in the future of our city.”
There were 200 new development applications for the Melbourne CBD for new businesses and shop fit-outs—a vote of confidence by retailers that customers would keep returning to the city.
“With residential occupancy levels now back to pre-Covid levels and a record number of new hospitality venues opening in the city it is no wonder that development applications have taken off,” Reece said.
In Carlton, more than 70 DAs were lodged by residents wanting to build or upgrade heritage-listed homes, while the new Arden and Macaulay precincts drove an increase in Kensington.
“It’s particularly exciting to see developments popping up in the city’s newest suburbs,” Reece said.
West Melbourne has also experienced a surge in new development interest since the city’s West Melbourne Structure Plan was gazetted, among them Perri Projects’ $230-million West Melbourne Waterfront Precinct.
“The vision to transform West Melbourne into the next Fitzroy or Collingwood is also gathering momentum with some distinctive planning applications approved,” Reece said.
Key state-assessed developments include a $750-million project at the Goods Shed in Docklands and a $264-million project at North Melbourne’s RMIT Village.
The data showed that East Melbourne had the most appeals against new projects lodged with the Victorian Civil and Administrative Tribunal—more than double any other City of Melbourne district or neighbourhood. West Melbourne and Docklands had the least.
“As development interest continues to grow, it’s never been more important for the City of Melbourne to prioritise high-quality design, architecture and amenities to ensure the best outcomes for everyone who lives, works, studies or visits our city,” Reece said.
“The buzz is back and 2023 is shaping up as a year of exciting possibilities for Melbourne.”
