Melbourne-based construction conglomerate Acciona Geotech has been greenlit by the City of Melbourne Council for its first stage development of a former industrial site at Port Melbourne.

The 31-storey tower will become Acciona Geotech’s new national headquarters, with 9775sq m of office, ground plane retail and 181 apartments, which is expected to create up to 860 jobs and then up to 2000 jobs by 2031.

The five-tower masterplanned community slated for the site at 150-188 Turner Street at Port Melbourne is in the Lorimer precinct within the Fishermans Bend development area.

Across the five stages with building heights from 31 to 50 storeys, the project will deliver more than 1500 apartments, including about 6 per cent affordable housing, 15,803sq m of office space, more than 3000sq m of retail space and two basketball courts.

The project, which will cost the conglomerate about $600 million, will feed into the Fishermans Bend 480ha urban renewal project, which has been identified as a priority precinct in Plan Melbourne, and will accommodate significant population and employment growth.

City of Melbourne Deputy Lord Mayor Nicholas Reece said the development of a multi-national organisation’s headquarters in the precicnt was a “massive vote of confidence in Melbourne and Fishermans Bend”.

“This is such a significant development and so we have worked extremely hard on the details to get it right, and as such there are a number of conditions,” Reece said.

Read the whole article online via theurbandeveloper.com