Construction of one of Melbourne’s last ‘super towers’, Aspire Melbourne, is officially underway, with Hickory appointed to carry out the circa $180 million construction contract.
With demolition works underway and the turning of the first sod this week, the 65-storey tower designed by Elenberg Fraser is the latest project by award-winning property developer ICD Property, in joint-venture with MaxCap Group, one of Australia’s premier real estate investment groups.
Prior to construction commencing, archaeological excavations were required on-site with the remains of an eighteenth-century girls’ school and thousands of artefacts that date back to the start of Melbourne’s historic settlement uncovered – providing a unique window into life in early Melbourne.
Adjacent to the lush Flagstaff Gardens, the $440 million skyscraper received financial backing from global conglomerate Goldman Sachs, in partnership with MaxCap Group, and is anticipated to begin staged completion by October 2021, with full completion by early 2022.
It is estimated that 1,000 jobs will be created throughout the project’s roughly three-year construction life-cycle.
“Like most across the country, we have been dismayed at the soaring unemployment figures and the direct hit to the Australian economy due to the COVID-19 pandemic,” said Matthew Khoo, ICD Property Managing Director.
“With construction commencing in the thick of these troubling times, it is certainly very pleasing that we will be able to provide such a significant boost to the local economy and the job market.”
Simon Hulett, MaxCap Direct Investment Director added, “In this challenging environment, MaxCap is committed to supporting quality developers and builders, such as ICD and Hickory, in delivering iconic projects across the country. It is a credit to all stakeholders in Aspire Melbourne that we have now reached this significant milestone. We are excited to see construction progress and jobs created.”
Hickory Managing Director George Abraham said Aspire is set to join a long list of skyscrapers Hickory has successfully built.
“Led by an experienced team of experts in our internal structures and facades team, we are also thrilled to collaborate with Elenberg Fraser once again in constructing their distinctive, sleek design,” said Mr Abraham.
In line with current state government regulations and the need to maintain safe social distancing, a number of precautionary measures have been implemented on-site. ICD Property is also investigating offsite construction of certain components to reduce the number of workers required on-site at any given time.
Home to 594 apartments and six levels of world-class amenities, the building’s future residents will be able to take advantage of their own mezzanine library, a co-working space and boardrooms, champagne conservatory, whiskey parlour and wellness centre comprising a gym, hydro pool, and spa.