Developer Investa Melbourne CBD office project nears approval

Investa, a prominent developer, has advanced closer to securing approval for its latest office project in Melbourne’s CBD.

The proposal, which includes the construction of a 28-storey office building at 522-552 Flinders Lane, recently gained unanimous support from the Future Melbourne Committee during its April 9 meeting.

GALLERY  

Designed by Hassell Architects, the project involves the demolition of a 1000-space carpark at the 3196sq m site to make way for the new office tower. Plans also encompass retail tenancies, end-of-trip facilities, and two basement levels of parking for a total of 68 cars, 374 bicycles, and 12 motorcycles.

The development’s design features a podium spanning the first eight storeys, incorporating amenities such as retail spaces, end-of-trip facilities, and terraces. Above this, a 21-storey tower will house open-plan office spaces.

During the committee meeting, Deputy Lord Mayor Nicholas Reece raised concerns about demolition, emphasizing the City of Melbourne’s preference for adaptive reuse to reduce waste. In response, Investa’s planners noted that the car park’s internal layout made adaptive reuse unfeasible, although the new building’s flexible floorplates could accommodate future modifications.

Council documents estimate the project’s development cost at $332 million, highlighting its scale and significance within the city’s landscape. The plans have undergone rigorous review by the Office of the Victorian Government Architect’s Victorian Design Review Panel.

The proposed site, adjacent to notable landmarks like the Registry of Births, Deaths, and Marriages, underscores the project’s strategic location within Melbourne’s evolving urban fabric. Development activities in the area, including hotel renovations and revamped office spaces, reflect a broader trend of mixed-use adaptive reuse projects.

The final decision on the project rests with the Victorian Planning Minister, pending Melbourne Water’s review to ensure compliance with flood-planning measures. The City of Melbourne Council’s initiatives to promote sustainable transportation, infill development, and building retrofitting align with broader urban sustainability goals.

Investa’s project signifies not just a significant addition to Melbourne’s skyline but also a testament to ongoing efforts to balance development with environmental considerations and urban sustainability.

Images via The Urban Developer

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