Lend Lease pushes residential development

Lend Lease pushes residential development

Lend Lease is continuing its move into residential-focused development in Victoria Harbour, with plans for another residential building submitted for planning approval last month.

The dual tower development would be built at 889 Collins St and located on the Yarra River and will be the first residential building to have both a Collins St address and river frontage.

The proposed development adds to Lend Lease’s current residential construction portfolio, which includes 888 Collins and Concavo.

The development is to be built across two land parcels, one of which Docklands News understood had been earmarked for commercial development.

However, a Lend Lease spokesperson said the site had been nominated as a “flexible use site” in the Victoria Harbour masterplan.

“It has an existing permit for commercial use, however we’re seeing strong interest in apartments in the precinct,” the spokesperson said.

“A permit for a residential building on the site will give us flexibility for future development.”

If approved, 889 Collins St will comprise a 23-storey north tower and 29-storey south tower joined by a podium.

The development will add 538 apartments to Docklands, along with nine mixed-use suites along Collins St.

Apartment prices will range from around $395,000 up to $1.8 million.

Construction is targeted to begin in May next year and be completed in June 2017.

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