A new vibrant community village will be created in Southbank featuring affordable housing and public facilities, following an agreement between the City of Melbourne and PDG Corporation.
City of Melbourne Lord Mayor Sally Capp said the agreement was a win for the community, and will be the final component in the revitalisation of the J H Boyd Girl’s School site.
“We’ve negotiated a fantastic outcome to deliver community facilities and affordable housing at the Boyd site, putting the needs of a growing Southbank community at its heart,” the Lord Mayor said.
“Offering more affordable housing is one of the most important priorities for our city. This development will include 40 affordable housing units and will achieve a 6 star Green Star certification.”
The land sale and development agreement will see a parcel of land at 132 Kavanagh Street transformed to accommodate a mixed-use 110 metre development including residential and affordable housing, a boutique hotel, and retail and community facilities.
Following a competitive tender process for the land sale and development, the City of Melbourne accepted PDG Corporation’s offer, which included a $16.5 million payment and agreement to deliver 1,000sqm of community space.
“The development will include 1,000sqm of community facilities across two levels, which will be owned and managed by the City of Melbourne. This will give us an opportunity to complement and expand community services alongside our well-used Boyd Community Hub,” the Lord Mayor said.
“The development will feature a vibrant streetscape that links together key public spaces, including the new Boyd neighbourhood park.
“The park will be completed in the coming months and will create a new backyard for the thousands of residents living in apartments in Southbank.”
PDG Corporation is already partnering with the City of Melbourne on the $450 million Munro development opposite the Queen Victoria Market, which will include 54 affordable housing units.
Managing Director Vince Giuliano said PDG Corporation was excited to work with Council on this key project for Southbank.
“Similar to the Munro mixed-use development, we will deliver a precinct that reflects its distinct local character, bringing together various community spheres in one location,” Mr Giuliano said.
PDG has not ruled out the possibility of a build-to-rent component as part of the Boyd development. This follows the recent flagship agreement to deliver a build-to-rent project of 490 residences at the Munro site (subject to planning approval).
“Our vision is a true vertical village on the park – high-quality residences, affordable housing, fine-grain retail and community facilities,” Mr Giuliano said.
“It’s not often you get an opportunity to develop in a location like this. There are no adjoining high-rise buildings and an abundance of green open space, making it prime for a community atmosphere of residential and commercial spaces.”
Subject to planning approval, construction on the development is expected to begin late next year and be completed in late 2022.