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Tower pegged back

12 Jul 2016

Tower pegged back Image

In what was originally submitted at 82-storeys, the Minister for Planning last month granted approval to the controversial development at 334-344 City Rd at a more modest 38-storeys.

After its original design was refused, developer EAG Pty Ltd went back to the drawing board last year and resubmitted a 57-storey proposal, which Lord Mayor Robert Doyle slammed as a “terrible proposal”.

Measuring at 190-metres in a zone stipulating a 100-metre discretionary height limit, the Lord Mayor had previously accused the developer of “thumbing its nose” at the city’s planning controls.

The developer has since complied by scrapping hotel rooms and reducing the number of apartments from 482 to 290.

The $200 million approval comes as one of five major projects approved by Planning Minister Richard Wynne in June, resulting in a $2 billion boost to the Victorian economy.

While having been accused by the building industry of attempting to stifle development with tougher planning controls, Mr Wynne said the market was responding by providing greater apartment variety.

“The market is responding to high supply levels by offering more variety and we’re seeing more apartments big enough for families,” he said.

“The conditions imposed on the permits make significant improvements to these developments, making sure the buildings are set back from the streets and apartments are liveable.”

With another 45,000 new homes projected to be built in the inner city by 2031, Mr Wynne said he expected strong investment in development to continue.

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