Shayher Group's Pentridge Prison redevelopment project has taken great strides towards completion, but with work still underway, the developers have announced their ambitions to see their mixed-use Coburn precinct become a haven for short term jobs and long term employment opportunities.
According to Shayher, the redevelopment of Pentridge Prison will create more than 8000 jobs in the Moreland area, including more than 1200 long-term positions and at least 6000 construction jobs.
Once complete, redevelopment project will be made up of residential and retail offerings, spanning the 6.7 hectare that used to make up the historical Victorian prison. Shayher said approximately 6113 jobs will be created throughout the construction of the project, which will include heritage restoration works of the most significant historical elements of the site (such as the restoration of the six historic guard towers), a community piazza featuring a retail and laneway dining precinct, a 120-apartment Adina Apartment Hotel and a 15 screen Palace Cinema.
Plans For Pentridge’s Precinct Break Free]There will also be an estimated 1268 new permanent jobs created across retail, hotel and hospitality industries as part of the prison’s transformation, providing long-term employment benefits in the Coburg area.
In case you were wondering where the employment projection numbers came from, Shayher Group commissioned a report that would provide data on how their project would affect Coburg in terms of interaction with the existing area. The report was undertaken by MacroPlan Dimas and addressed the economic benefits of implementing the Pentridge Masterplan, in particular constructing the hotel, shopping centre, retail and commercial precincts in the Coburg community and northern Melbourne suburbs.
Shayher Group project spokesperson Anthony Goh said the report’s findings illustrated the benefit and long-term sustainability Pentridge Coburg would have in the wider community.
“Pentridge Coburg is already driving an economic boost in the local area, with hundreds of construction workers on site to restore the heritage elements of the prison and undertake site works.
"It is fantastic to see in black and white the positive impact this development will have on employment, the local economy as well as the cultural fabric of Coburg,” he said.
“As a long-term, sustainable development it will have an economic multiplier effect from not just the planned works for the site, but the growth opportunities that come from the direct boost to local economic activity across the retail, hospitality and commercial sectors.
Prison Restoration On Track For Completion]“A project of this size brings with it continuous employment and economic opportunity.”
Shayher Group has already engaged approximately 1200 construction workers, heritage restoration specialists and heritage architects for the site’s historical restoration, which includes the recent completion of the A-Division roof and the first of the six iconic guard towers, since it began restoration works in 2013.
TFE Hotels said the Adina Apartment Hotel would also contribute to Shayher's quest for job creation, generating approximately 40-50 full-time positions both directly employed by TFE Hotels and based in the hotel and indirectly.
"There will be a boost to local economic activity in the area through an increase in demand for local services such as restaurants, cafes, general retail and taxi services – not to mention the appeal the development will add to Coburg, transforming it into a cultural hub and a bustling community in itself," TFE Hotels CEO Rachel Argaman said.
Another key partnership for Pentridge Coburg is the Palace Cinema, which is expected provide approximately 50 jobs, including 20 full-time positions.
“Long-term employment will be complemented by the increased tourism we expect to see thanks to our popular foreign language film festivals, which bring audiences the best of contemporary and classic cinema from Italy, Spain, France, Britain as well as many more countries," Palace Cinema CEO Benjamin Zeccola said.
“We expect that future film festivals at Palace Champ Street will draw local and international visitors who will be excited to experience a night of cultural entertainment at our cinemas, which will be located within the heritage-listed walls of an icon of Australia’s rich history.”
The project is expected to provide a boost to Melbourne’s local tourism industry, with the development expected to draw visitors intrigued by Melbourne’s penal heritage.
“Shayher Group is committed to undertaking this project in close consultation with the community, through the Residents and Community Group, which has met regularly over the past twelve months," Mr Goh said.
“Pentridge will economically benefit the wider Melbourne city, offering an opportunity to create a vibrant, community hub that has the potential to turn Coburg into the next inner-city hot-spot in similar vein of Brunswick and Fitzroy,”
Shayher Group will spend in excess of $2 million on heritage restoration works, with all restoration works expected to be completed in mid-2017. The next stage of Pentridge Coburg, including the completion of the Adina Hotel, Palace cinema, retail precinct and public piazza is expected to be completed in late 2019.