Property developer Time & Place has secured ministerial approval for its $500-million mixed-use development at South Melbourne.
Time & Place says the development will occupy “one of the largest island sites on the Melbourne CBD periphery”.
The amalgamated site began with the acquisition of 11-17 Dorcas Street. Four neighbouring sites were added during the following 18 months.
Together the aquisitions, bordered by Dorcas and Wells streets and Middleton Lane, created a 2398sq m island site on the junction of Dorcas Street and St Kilda Road.
“After exploring the opportunities presented [by] a larger, amalgamated site, Time & Place has been able to unlock further design and amenity opportunities, evolving our original idea for the site into a true urban precinct,” Time & Place founder Tim Price said.
The project, designed by Bates Smart, comprises 243 homes as one, two, three-bedroom and penthouse apartments across two towers connected by a central garden bridge. Plans show 10 and 12-storey towers. The ground floor will be given over to retail.
Price said the development, 1.6km by road from Melbourne’s CBD and next to South Yarra and the botanic gardens, would create a village-style precinct that connects to the Domain.
Plans show a facade featuring floor-to-ceiling glazing that the architect said is designed to maximise views of the botanic gardens, the Shrine of Remembrance and other features.
Time & Place said the project aimed to integrate with the location’s historic and urban context while introducing new dining options and community amenities.
The developer has indicated construction will begin soon after the project launch, which is slated for this year.
The approval was facilitated through the Development Facilitation Program (DFP).
“This accelerated approval process is enabling us to better deliver thoughtfully designed places while supporting local economic growth and job creation,” Price said.
This pathway was also used for Time & Place’s $150-million development at Glen Iris, which will deliver 60 apartments and a Woolworths supermarket.
That five-storey project at 173 Burke Road, designed by Cera Stribley, includes affordable homes targeting downsizers, young families and multi-generational households.
Time & Place has also secured approval for a $100-million SJB-designed development at Manly, which will comprise 21 luxury apartments and three penthouses across five storeys.
