IGA site next to rise on Sturt St

ASX-listed developer Cedar Woods has lodged an application for a 20-storey tower on the current site of the IGA supermarket on Sturt St in Southbank

The plans for the Rothelowman-designed tower, located at 151 Sturt St, are currently under consideration by the Department of Transport and Planning.

The proposed tower comprises 180 apartments, including 28 studios, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom apartments, as well as two basement levels.

The site has a double frontage to Dodds St and is within walking distance of the Malthouse Theatre and Arts Precinct.

Under the current plans, a shop tenancy is also proposed for the ground floor, in addition to a commercial area on the first floor, which is earmarked as a creative arts space.

Across the two basement levels and between the first and third floors, 155 car spaces will be provided, and there will be an additional 226 bicycle storage spaces on the ground floor.

According to the property’s history via Domain, Cedar Woods purchased the property in 2021 for around $26.5 million.

In 2016, the publicly-listed developer began building higher-rise developments, having previously focused on developing housing, retail, and office spaces around Australia.

More recently, it’s branched out into CBD-fringe and inner suburban townhouses.

In addition to the Southbank development, Cedar Woods currently has a townhouse project under construction in North Melbourne.

The developer has also completed a $200 million residential project on the former Olympic Tyre factory in Footscray, 6.5 kilometres west of Melbourne’s CBD.

Cedar Woods was contacted for comment. •