Victorian Government Dedicates $1.2B to Fast-Tracking of Projects

Image source: Property HQ

The Victorian Government has dedicated $1.2 billion to the fast-tracking of development projects. 

Building Victoria’s Recovery Taskforce’s move will create thousands of new jobs and accelerate priority projects while bringing the Victorian economy back into shape. 

Shovel-ready projects will provide short term and long term jobs for the construction industry including working on the following soon to be approved CBD projects: 

The Melbourne headquarters of the Australian Federal Police building at 140 Lonsdale Street, costing $290 million

Art gallery, apartment complex and retail space at 640 Bourke Street, costing $234 million

Office and hotel complex at 600 Lonsdale Street, costing $180 million 

Emerging Biomedical precinct at 683-699 Elizabeth Street, costing $60 million and, 

Residential development at 67-81 Galada Avenue, Parkville costing $60 million. 

Victoria’s Planning Minister, Richard Wynne is yet to approve a $250 million development in Caulfield which will include affordable housing, retail space and a new supermarket for its residents. 

He said that the taskforce is working hard to deliver priority projects in a timely manner for the benefit of the building and development industry and for all Victorians.

Related news: Construction Industry in Victoria Pushes Council for 6am Starts

“As the industry deals with the unprecedented challenges of the pandemic, we’re making sure priority projects are delivered more efficiently and fast-tracked where appropriate”, said Mr Wynne. 

Building Victoria’s Recovery Taskforce has called for submissions of priority projects in Victoria, this includes projects which may be awaiting VCAT or local council approval. 

Projects which create and protect new jobs while stimulating the state’s economic recovery will be prioritised. Initiatives that stimulate social security will also be prioritised. 

View the full eligibility criteria for the Building Victoria Recovery Taskforce and make a submission for your project.

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