More Building Approvals To Drive Our Economic Recovery

VIC Premier

The Victorian Government is driving investment, jobs and Victoria’s economic recovery, with planning approval for another round of shovel-ready housing, commercial and renewable energy projects fast-tracked.

Planning Minister Richard Wynne has today announced planning permit approvals for building and development projects totalling $625 million across metropolitan, rural and regional Victoria, with all projects having been prioritised through a dedicated taskforce.

The Government has now approved more than $7.5 billion in projects since March, to support businesses, create jobs and bolster Victoria’s economic recovery.

The approvals coincide with the launch of the Development Facilitation Program (DFP), which is continuing the work of the Building Victoria’s Recovery Taskforce that completed its term in August.

DFP’s role is to identify priority projects that meet specific criteria including investment certainty, positive short to medium term economic impact, job creation and their contribution to broader social objectives like affordable housing and emissions reduction.

The latest projects to receive approval include:

  • A $130 million, 13-storey office building with ground floor retail at 462-482 Swan Street in Richmond
  • A 15-storey, $85 million, 5-green star commercial development at 36-52 Wellington Street in Collingwood
  • An 8-storey office and commercial building at 12 Balmoral Walk, Frankston worth $116 million
  • A 72-megawatt solar farm on Wangaratta-Kilfeera Road in Laceby, valued at $93 million
  • A $24.2 million mixed use development at 69-75 Mortlake Road Warrnambool
  • Two 4 storey apartment complexes including 53 social housing units in Reservoir valued at $74 million.

More than $7.5 billion worth of projects have been approved since March, after the Government identified Victoria’s building and construction sector as a key mechanism to revitalise the state’s economy.

For more information and to apply to the Development Facilitation Program visit planning.vic.gov.au

As stated by Minister for Planning Richard Wynne

“We know how important the building and development sector is to our economic recovery and we’re continuing to support the industry with a pipeline of shovel ready projects.”

As stated by Treasurer Tim Pallas

“As restrictions ease it’s crucial there’s an ongoing supply of projects to secure existing jobs, create more employment opportunities and keep investment coming into our state.”

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