More than one thousand new homes have been fast-tracked by the Allan Labor Government in Melbourne's inner north-west as part of a transformation of Moonee Valley Racecourse.
Minister for Planning Sonya Kilkenny has given the greenlight for the state's biggest project approved through the Development Facilitation Program - the Labor Government's accelerated planning pathway to build more homes.
The site of the existing grandstands will make way for 1,092 new homes, ranging from studio to three bedrooms, across four apartment buildings - including more than 500 build-to-rent homes.
The $709 million development also includes a 184-room residential hotel, more than 3,000 square metres of retail and office space creating local jobs and business opportunities - while just minutes away from public transport, jobs, shops and services.
The transformation will deliver new green spaces including an extension of Tote Park, a new pedestrian link known as Cox Place, and a pocket park at the corner of Dean Street and Feehan Avenue.
The project will form part of the broader Moonee Valley Racecourse redevelopment, which also includes rebuilding the public grandstand after this month's Cox Plate.
The Government's Development Facilitation Program streamlines the planning process for priority projects that boost investment into the economy, keep people in jobs, and create homes for Victorians. To be eligible for this pathway, housing projects must deliver at least 10 per cent affordable housing.
Since the program opened to residential development two years ago, more than 6,900 homes have been fast-tracked by the Minister for Planning through this pathway.
Victoria continues to lead the nation in housing approvals and builds - and this is backed by our bold reforms to build more homes, including unlocking space for homes near trains and trams, making it easier to build a townhouse and setting housing targets for every local government area.
As stated by Minister for Planning Sonya Kilkenny
"This is the biggest project we've fast-tracked so far - delivering more great homes for more Victorian families."
"We've fast-tracked thousands of homes through this streamlined pathway - because we know the best way to make housing more affordable is to build more of them."
As stated by Member for Essendon Danny Pearson
"Moonee Valley's transformation is off and racing - this project will create more than one thousand new homes, new jobs, and new green spaces for our community."
