image source: Real Estate Source
The Victorian Government’s 20-year Revitalising Central Dandenong initiative is set to enter a new phase, with four key companies shortlisted to construct a new mixed-use precinct.
Capital Alliance Group, Brady Group, MAB and Quintessential Equity have all been selected to submit proposals for the project.
The Request for Proposal phase will close in February 2020, following which the winning bidder will work with Development Victoria and the City of Greater Dandenong to design the precinct, with construction to commence in 2023.
The two-hectare site, located next to Dandenong Railway Station will feature public spaces to link the station with the town centre.
Around $700m has been invested by the state government into revitalising Dandenong so far, and the project, which began in 2006, is projected to attract $1.2bn in private investments.
Dandenong is home to Melbourne’s longest-standing cluster of Indian culture and commerce, and the project will feature Indian-themed offerings in line with the existing Little India precinct.
Three of the four shortlisted companies have residential backgrounds, while Quintessential Equity’s current pipeline of work, including the Geelong Civic Centre and green space, makes it a prime candidate for the project.
MAB has a number of projects in the Southeast, including a commercial office building, retail centre and business park in Narre Warren and Clyde North respectively.
Brady’s current pipeline includes the 380 Melbourne dual-tower residential precinct on Lonsdale Street and the Landcox Park Residences in Brighton.
Capital Alliance is currently completing two mixed-use residential and hotel developments in Docklands and Southbank, each featuring 200-room Marriott hotels and up to 100 private dwellings.
The project has so far provided improved pedestrian walkways and safety on Lonsdale Street, new community recreational facilities, a Council Civic Centre and a number of government agency buildings.
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