Construction on the $440 million Aspire Melbourne ‘super tower’ is now underway, expected to create 1000 jobs over a three-year period.
The first sod has been turned on the 65-storey Aspire Melbourne, with demolition work well underway.
Property developer ICD Property, in a joint venture with MaxCap Group, appointed Elenberg Fraser to design the tower, which will be built by Hickory as part of a $180 million contract.
The tower is located next to Flagstaff Gardens and received financial backing from financial conglomerate Goldmans Sachs.
Aspire Melbourne will include 594 apartments and six levels of amenities, including a mezzanine library, a coworking space and boardrooms, champagne conservatory, whiskey parlour and wellness centre.
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ICD Property Managing Director Matthew Khoo said the company has been dismayed at the soaring unemployment figures and the direct hit to the Australian economy due to the COVID-19 pandemic.
“With construction commencing in the thick of these troubling times, it is certainly very pleasing that we will be able to provide such a significant boost to the local economy and the job market,” he said.
Khoo said Hickory was a considered choice, with the company’s long track record of successfully delivering high-rise towers throughout Melbourne, driving the decision.
“Contributing to the country’s property landscape since 1991, Hickory has been a pivotal player in the evolution of our city’s skylines. Offering an innovative approach and proven ability to deliver buildings of this scale, their ability to remain at the forefront of innovative construction methodology is unmatched,” he said.
“Our first project together, we are proud to partner with Hickory in bringing to life this transformative development that will undoubtedly contribute to shaping the future of multi-residential living in Melbourne.”
MaxCap Direct Investment Director Simon Hulett said MaxCap is committed to supporting quality developers and builders, such as ICD and Hickory, in delivering iconic projects across the country.
“It is a credit to all stakeholders in Aspire Melbourne that we have now reached this significant milestone. We are excited to see construction progress and jobs created.”
ICD Property has implemented a number of precautionary measures on site in line with the current state government regulations for COVID-19.
Offsite construction of certain components will also reduce the number of workers required on site at any given time.
Before construction could commence archaeological excavations were required. These uncovered the remains of an eighteenth-century girls’ school and thousands of artefacts that date back to the start of Melbourne’s historic settlement uncovered – providing a unique window into life in early Melbourne.
Working alongside Heritage Victoria, the significant artefacts will be kept and managed at the Archaeology and Research Centre, with the potential for some of the artefacts to be displayed within Aspire Melbourne upon completion.
Staged completion is expected by 2021, with full completion by early 2022.