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Golden Age Plans $350m Apartments for ‘Melbourne’s Next CBD’

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Property developer Golden Age Group have submitted plans for a new $350 million residential development in Melbourne’s newest high-rise suburb, Box Hill.

Golden Age’s proposal for the Station Street project comprises two 18-storey towers and one smaller six-storey building with 429 residential and 77 serviced apartments over the 7,244sq m site.

The developer, led by Jeff Xu, picked up the site for $51.8 million in August 2016. A permit to rezone to the site was made in December 2016. The City of Whitehorse council voted in support of the rezoning application earlier this year with the developer facilitating the application over the last 24 months.

The initial proposal, administered by a state government planning panel, included a hotel, childcare facility, and a mix of commercial and retail space.

Related reading: Golden Age Announce Launch of 85 Spring Street Tower

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Managing director Jeff Xu said that the submission was part of a larger plan to expand Box Hill’s urban centre, which he says is “slated to become Melbourne’s next CBD”.

“The proposed plan will feature a large public realm and multiple street frontage [and] a new pedestrian crossing over Station Street to enhance linkages to the existing Box Hill commercial precinct,” managing director Jeff Xu said.

The towers are designed by DKO Architecture. Xu said the proposed childcare centre will be twice the size of the previous facility, which occupied the site alongside a car park structure prior to Golden Age’s 2016 acquisition.

Related reading: Starwood Capital Join Golden Age Group on Spring Street Project

The proposed development will be located at 517-521 Station Street in the heart of Box Hill’s major development precinct, sitting adjacent the developer’s 36-storey residential tower Sky One, which is currently under construction at 545 Station Street.

“The development of Sky One and this project reflect Golden Age Group’s commitment to the vibrant community of Box Hill.” Xu said.

Full planning approval is expected to be received in 2018 with the Station Street site slated for a 2019-launch.

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Article originally posted at: https://https://theurbandeveloper.com/articles/golden-age-plans-350m-apartments-for-melbournes-next-cbd-