OPINION: THE Australian Property Institute (Victoria) welcomes State Planning Minister Richard Wynne’s bold decision to greatly expand the Fishermans Bend precinct.
Following the announcement to increase the rezoned area from 250ha to 455ha, it is vital the new government shows leadership and vision with urban renewal projects, and clears the way for the private sector in the precinct.
Fishermans Bend is in disaggregated ownership. Infrastructure, particularly public spaces and public transport, will require significant upgrading in the precinct and multiple owners will necessitate careful planning.
The government should also focus on the inner-western area, particularly from West Melbourne to Footscray and the Arden-Macaulay corridor, where the State owns expansive tracks of land that will steadily become available for urban renewal.
It’s imperative that government, together with the private sector, implements the redevelopment of E-Gate – a 20 hectare zone adjacent to North Melbourne station – in a high quality way to rebrand and transform the inner west into a highly desirable location for both residents and businesses.
The abundance of state-owned sites removes the issue of having to deal with a vast number of small sites and would allow the government to take advantage of the strong public transport, excellent road connections and close proximity to the CBD and the knowledge precinct centred around Melbourne University that the inner west boasts.
There is also the very attractive environmental access to the Yarra River, Maribyrnong River and Moonee Ponds Creek, which is a uniquely prominent natural feature of Melbourne’s inner-city development sites.
The opportunity has presented itself to the State Government to display leadership and vision on key urban renewal projects, and it is vital it takes it with consideration and careful planning.
By Aldo Galante, President, Australian Property Institute Victoria.*
Australian Property Journal
