Goodman in height lift on the Bend

The listed Goodman Group will be one of the main beneficiaries of height guidelines proposed for Melbourne's largest urban renewal precinct.
By · 23 Oct 2013
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By ·
23 Oct 2013
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The listed Goodman Group will be one of the main beneficiaries of height guidelines proposed for Melbourne's largest urban renewal precinct.

The state government's "draft vision" for Fishermans Bend released in September includes proposed maximum and unrestricted height limits in the suburb's four new precincts, Wirraway, Sandridge, Lorimer and Montague.

The plans also make room for a network of open spaces, walking and cycling routes and the extension of the Collins Street tram route along Plummer Street to the bay.

Planning Minister Matthew Guy last July rezoned 240 hectares of land at Fishermans Bend to accommodate 50,000 residents.

Since then, plans have firmed for at least 17 high-rise towers but many in the Montague precinct will be significantly cut down in size.

MAB Corporation's proposal for three towers for Gladstone Street rising to 28 levels now sits in an area restricted to 18 storeys.

Austpac director Bill Boerkamp's plans for another three towers up to 29 levels in Montague Street will be cut down to a series of four-level buildings.

A 50-level tower proposed by Adrian Bogatez from Sungard Availability Services will be similarly affected.

Mapping by Fairfax Media of unrestricted height limits for the suburb shows the Goodman Group's significant holdings in Bertie and Plummer streets in Port Melbourne will benefit most from the proposed changes.

Other large landowners within guidelines that allow tall towers above a mid-rise podium include APN Property Group and Toyota.

The draft vision has sparked intense lobbying from developers after many were caught out by the height restrictions and a proposed infrastructure levy that could add as much as $15,000 to the cost of a typical apartment.

Places Victoria, charged with overseeing the development of Fishermans Bend, and the cities of Melbourne and Port Phillip are midway through finalising fees for the levy, similar to growth area infrastructure contributions.

The fee structure is expected to be released in March and will be used to fund, among other infrastructure, the new tram route for Plummer Street.

Lemon Baxter director Paul O'Sullivan said one figure suggested would add as much as $15,000 to an average apartment.

Places Victoria would not discuss the fees, but a spokesman said a sheet of options was currently before Mr Guy's department.

"No amount has been decided," he said.

Property Council executive director Jennifer Cunich said using developer contributions to fund infrastructure was a "20th-century solution to a 21st-century challenge".

The government's substantial business and property assets should be sold to fund infrastructure priorities, Ms Cunich said.
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