Melbourne will welcome a new $190 million, 50 storey office building after planning Minister Matthew Guy approved the development.
The new building will be over 250 metres tall and will include an 11 storey podium with a mix of ground floor retail opportunities.
"This is a prime example of local developer Dale Rose Pty Ltd having confidence in Victoria and committing to approximately 580 direct jobs and 3,000 indirect jobs during construction," Guy said.
A render via online community Skyscrapercity, showing a proposal for 56 level, 220 metre tall tower, to include with 5 level basement carpark, ground floor foyer and café.
"This prominent corner of our central business district will be transformed into a majestic location for a range of businesses, with employment opportunities for up to 2,000 people.
"The redevelopment site is located in an evolving area where planning policy encourages development that supports a vibrant and economically competitive central city while making efficient use of existing infrastructure.
"This proposal ticks all the boxes and sets a high benchmark for building design and performance, while increasing competition within the commercial market," Mr Guy said.
It is estimated that inner Melbourne, including the central business district, will need to accommodate an extra 30,000 people by 2026.
"We know what the statistics are telling us. Melbourne's future is about growth and change so this proposal responds to future needs while being a catalyst for a range of other opportunities," Mr Guy said.
"With the development of a new Metropolitan Planning Strategy underway we also need to respond to our city's future needs with appropriate planning and development decisions."
