Four companies have been shortlisted to revitalise Central Dandenong, Melbourne, with a mixed-use development worth up to $300 million.
Capital Alliance Group, Brady Group, MAB and Quintessential Equity were the four companies that have progressed to the next stage, after an Expression of Interest process.
The two-hectare site is located next to the Dandenong Railway Station and includes the Little India precinct, Melbourne’s longest-standing cluster of Indian culture and commerce.
Each of the companies have acknowledged the cultural significance of the site and incorporated Indian themed offerings in their submissions.
A Request for Proposal process in 2020 will determine the winning developer, which will work closely with Development Victoria and the City of Greater Dandenong to consult with the local community and businesses.
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The request for Proposal phase will begin in October and will close in February 2020, which construction expected to begin from 2023.
“This is an important redevelopment in the heart of Dandenong and the benefits will be far-reaching, from job creation and economic growth to greater community connection,” said Victorian Priority Precincts Minister Gavin Jennings.
The Revitalising Central Dandenong project was launched in 2006 and represents a $290 million investment by the Victorian Government, which has attracted around $700 million in private investment.
It has improved pedestrian connections on Lonsdale Street, provided the community with new recreational, and delivered a number of new developments such as the State Government Services Hub, ATO, Council Civic Centre and Quest Apartments.
“Remaking Central Dandenong has delivered tremendous benefits and this next step will continue that progress while making sure local people are heard along the way,” said Member for Dandenong Gabrielle Williams.