Property developer Time & Place has acquired a 940 square metre (sqm) landholding at 84-90 Queensbridge Street, Southbank for an estimated $29 million.
The island site, which sits within the Crown precinct, will be completely redesigned by Elenberg Fraserwithin the substantial height envelope of the previously approved planning permit.
The redesign provides an opportunity for Time & Place to apply its new vision for high-density residential living, in a format that responds to owners’ and occupants’ dynamic lifestyles, security, comfort and investment needs, as well as addressing more recent challenges presented by COVID-19. The developer intends to ‘push the envelope’ when it comes to design of the project, with a strong focus on sustainability and a view to activating surrounding public space.
Time & Place Director, Tim Price, said the site presents an exciting opportunity for the group as they look to deliver projects unlike others seen before in Melbourne. Southbank more widely is set to undergo a regeneration as part of the City of Melbourne’s $38 million City Road Masterplan project.
“Southbank has become renowned for glass towers, this won’t be another one of those. We’re looking to deliver something edgy, with a New York feel, and activate a space that the public will want to engage with,” Mr Price detailed.
“We’re pulling together a team of market leaders who share our values to create a project with a strong legacy that will have a lasting impact on Southbank and help its transition into one of Australia’s most livable suburbs.”