A development agreement signed by Places Victoria and Orion International Group (Orion Foster) will see the creation of a new $60 million residential development in the heart of Dandenong.
The proposed 14-storey development, located on Foster Street, will be part of the State Government’s Revitalising Central Dandenong project and will include around 140 apartments, ground floor retail and office space, together with car parking.
“On completion, this development will offer more diverse housing options in an area that is close to public transport and the centre of Dandenong,” Places Victoria General Manager Simon Wilson said.
“The development will also create employment opportunities during the construction phase and will stimulate economic activity following its completion, with retail spaces planned on the ground level and office space on lower floors.”
The development announcement of the Foster Street site was an important next step in the Revitalising Central Dandenong project, which continues to create jobs and economic activity in the area.
It joins other new developments including the recently opened Quest Serviced Apartments, the Government Services Office, ATO building and the City of Greater Dandenong municipal building.
Revitalising Central Dandenong is a $290 million revitalisation project, initiated by the Victorian Government in 2006. It is a 15 to 20-year project expected to attract more than $1.2 billion in private sector investment, while creating 5,000 jobs and enhancing Dandenong’s appeal as a great place to live, work and visit.
“Already in excess of $500 million in private investment has been committed to Dandenong as part of the Revitalising Central Dandenong initiative,” Mr Wilson said.
“Almost 40 per cent of land within the project boundary is now developed, under construction or contracted.
"Revitalising Central Dandenong has attracted significant private and public sector investment that has kick-started development and job creation.”
There are 11 sites remaining to be developed within the Revitalising Central Dandenong project, primarily located around the Dandenong Railway Station and George Street.