The Victorian Government has approved $160 million in residential development of Melbourne’s Docklands precinct.

 

State Planning Minister, Matthew Guy, said that the Government had now approved two residential towers that will form part of the New Quay precinct, and will include five distinct buildings comprising townhouses, residential apartments, retail, lobby, offices at ground level and a new 5,000 square metre urban park that will be a focal point of the development.

 

"At the half way mark in Docklands' development it is important that we continue to build on the current community fabric and provide even more living choices close to existing transport connections, jobs and retail," Mr Guy said.

 

These two new developments will consist of a 43 level (142 metre) residential tower with 244 apartments and a 16 level (52.6 metre) residential tower with 181 apartments.

 

Construction work on the residential development is expected to generate more than 500 additional jobs in the building industry over the two-year construction duration.