Dual tower plans next to Stadium
By David Schout
Developers want to build two 100-metre high towers next to the Marvel Stadium concourse on a site the AFL sold last year.
Plans from GFM Investment Management Limited have been submitted to the Department of Environment, Land, Water and Planning (DELWP) for the 685 La Trobe St site, which would predominantly feature residential build-to-rent apartments.
A dual application for 28- and a 30-storey towers, currently before planning minister Richard Wynne, also details three lower levels comprising function space, cafes and retail outlets.
Prior to COVID-19, the AFL had a multi-million-dollar deposit on the site and if purchased, it was earmarked as green-space as part of a stadium redevelopment.
But the league backed out of the deal when the pandemic struck and offloaded the site to shore up its financial position after suffering a significant hit to operations.
It is believed the AFL could still become a tenant at the new development and could utilise the lower levels as function space.
“In delivering this project in partnership with the AFL, the multi-function space was a key deliverable for future function space desirable for the Docklands precinct with such close proximity to the Marvel Stadium,” GFM’s pitch to government read, in a document seen by the Herald Sun.
“The large, three-storey void function space will be a significant space for future functions of the AFL.”
GFM said the “multi-function space to be used by the AFL and other parties’’ would “improve Docklands as a destination”.
The AFL purchased Marvel Stadium (then Etihad Stadium) in 2016.
During the height of COVID-19 in Victoria last year, the asset proved a crucial safety net when securing a reported $500-600 million assistance package from the banks to help it navigate through the downturn •
Two proposed apartment towers next to the Marvel Stadium concourse will stand around 100 metres high if approved.