CONSTRUCTION has started on Cbus Property’s controversial $1.25 billion “Pantscraper” at 447 Collins St.
Planning Minister Richard Wynne was on-site for the launch and said the project was made possible through negotiations.
“This project will revitalise a dormant CBD block while delivering more construction jobs – that’s a great example of how our planning policies encourage a contribution to the city.
“We worked with the council and CBUS so the final design would protect the Yarra River, deliver more parkland in the city and reflects our push for long-term design we can be proud of,” Wynne said.
The original proposal was reduced in height by 21.6 metres to reduce overshadowing over the Yarra River. The two 42-storeys tower will comprise 49,000 sqm of NLA commercial space and 250 apartments, a five-star hotel and 2,000 sqm of public space.
Australian Property Journal
