The first sod has been turned on a $300 million luxury residential tower in Melbourne’s Yarra’s Edge precinct.
Developed by Mirvac, the construction of the tower is expected to create around 2000 jobs and provide homes for 3000 residents.
Called Voyager, the tower will rise to be around 130 metres tall with 43 levels and is part of one of Australia’s largest urban renewal projects.
Included in the tower is a proposed 1000 square metres retail hub, which aims to service the broader Fishermans Bend and Docklands community.
Cranes have arrived on site and the first slab is underway, with completion and settlements anticipated to begin in mid to late 2021.
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Victorian Planning Minister Richard Wynne attended the sod turning ceremony, alongside Mirvac Head of Residential, Stuart Penklis.
“The construction of Voyager is the next chapter in the development of Yarra’s Edge – one of Melbourne’s most vibrant communities. The surrounding amenity, combined with unparalleled north facing waterfront access, has been very well received by purchasers looking to the long term, demanding quality apartments, supported by strong real estate fundamentals,” Penklis said.
“As the area continues to evolve, the Yarra’s Edge community will benefit from the added infrastructure and amenity coming to Fishermans Bend, as well as local facilities under development including the new Docklands Primary School and the extension of the waterfront promenade which will connect with Development Victoria’s planned cultural, recreational and community facilities, proposed to be located at the west-end of the precinct.”
Voyager is part of Mirvac’s $1.4 billion Victorian Apartments pipeline, following the buildings like Folia, Phoenix and The Eastbourne.
“While the Victorian market has been impacted by tighter lending, we have seen a flight to quality with purchasers increasingly focussed on developer’s track records,” Penklis said.