Lendlease has received final heritage approval for its flagship Gurrowa Place project in Melbourne, clearing the way for construction on one of the largest urban regeneration developments in the city’s history.
Delivered in partnership with the City of Melbourne and Scape, the project will transform a 3.2-hectare site on the southern edge of the Queen Victoria Market into a vibrant mixed-use precinct.
The federal government’s heritage sign-off follows state planning and heritage approvals, enabling Lendlease to move ahead with thousands of new homes, student accommodation, public space, and retail, alongside heritage restoration.
The approval comes as Loan Market Group reports Melbourne first-home buyer activity jumped 36% year-on-year in June, lifting their share of state mortgage applications to 18% – well above the national average.
Under the approved plans, Lendlease will deliver around 1,150 student residences by Scape and 622 build-to-rent apartments, including approximately 79 affordable homes, across two residential towers.
The developer has also proposed an amendment to the third building in the masterplan, which would add another 507 build-to-rent apartments and 55 affordable homes.
In total, the project could provide more than 2,200 new apartments and student beds, including over 130 affordable homes, in a location close to major transport connections and Melbourne’s education, medical, and research precincts.
Lendlease will also deliver Market Square – a 1.8-hectare public park designed in collaboration with the City of Melbourne – along with the restoration and conversion of the Franklin Street stores to enhance the market experience and attract more visitors.
A 220-space basement car park for visitors and traders is also part of the plan, supporting the broader renewal of the Queen Victoria Market precinct.
“Gurrowa Place is one of the most exciting urban regeneration opportunities in Melbourne, set to deliver high-quality and diverse new homes on the doorstep of the beloved Queen Victoria Market,” said Adam Williams (pictured above right), executive director development at Lendlease.
“A new 1.8ha park, new basement parking for visitors and traders, and the restoration and conversion of the Franklin Street stores will support the market’s broader renewal program, helping to secure the market’s future while also maintaining and celebrating its rich history.”
Nicholas Reece, lord mayor of Melbourne, said: “Lendlease and the City of Melbourne can now confidently move forward with groundbreaking plans to transform the precinct – attracting thousands of new residents, workers and visitors, while boosting business for traders.
“This development will also make a major dent in the housing crisis – delivering new homes, including affordable housing which the city desperately needs.
“This is the biggest mixed-use development project in council’s history.”
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