A contractor has been selected to build the first stage of the $750 million mixed-use Elizabeth North development in Melbourne’s biomedical precinct.
Property developer PDG has received planning approval for the first stage of its Elizabeth North project and chosen construction company Probuild to deliver it.
The 70,000 square metres development is a combination of heritage-listed and contemporary buildings to serve Melbourne’s education and biomedical clusters.
The first stage of the project is completely leased, with Trinity College announcing it will open its city campus on 9500 square metres of the Elizabeth North project, taking a 10-year lease.
Managing Director of PDG Corporation, Vince Giuliano, said Elizabeth North will provide facilities to Melbourne’s growing and vital industries, in line with Melbourne City Council’s and state government’s strategic vision for the precinct.
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“This dynamic precinct will be a new foundation for organisations that stand as global exemplars of their industries – driving the growth of knowledge, development of technology and success of Australia’s bright minds,” Giuliano said.
“We are excited to start this project with an accomplished builder. Probuild has delivered outstanding buildings in Melbourne and around Australia. Construction is planned to start within the next few weeks.”
Probuild’s Victorian Managing Director, Luke Stambolis, said he was also excited to commence work on another PDG project.
“Probuild and PDG have already worked together successfully at Melbourne high-rise Abode apartments and this cements our relationship even further,” he said.
“PDG placed a higher value proposition on Probuild as their preferred delivery partner after this experience. Together, we will deliver another best quality tower, this time in the commercial and mixed-use sector.”
PDG expects the Elizabeth North project to be completed by 2022.