A joint venture between Hamton and Hostplus has been appointed to deliver Arden Central, a $7 billion cultural and parkland neighbourhood just 1.5 kilometres north of Melbourne’s CBD.
The appointment followed a competitive tender process overseen by Development Victoria on behalf of the Victorian government.
The consortium will deliver more than 5,400 homes for more than 10,000 residents, alongside retail and community amenities and more than 5.5 hectares of open space.
The appointment builds on the longstanding partnership between Hamton and Hostplus, who are also joint venture partners on the $3.5 billion redevelopment of the Moonee Valley Racecourse.
After an initial stage of major civil infrastructure works, the first residential building is expected to be completed by 2032.
Stage One will target approximately 1,700 homes and 45 per cent of the overall precinct area, including key amenities and public spaces.
The full vision will be delivered progressively over 25 years.
Hamton Founder and Executive Chairman Paul Hameister said the project depended on public transport investment.
“Without the Victorian government’s investment in Arden Station, an opportunity of this scale and significance simply would not have been possible,” said Hameister.
Live Nation, Melbourne Victory Football Club and the University of Melbourne will join the project as precinct partners.
They will help establish Arden Central as a destination for sport, entertainment and education, building on North Melbourne Football Club’s 150-year presence in the area.
Live Nation will deliver and operate a 5,000-capacity live music venue expected to host more than 100 events annually.
Live Nation President, Australia and New Zealand, Alex Klos said the venue would meet a clear need.
“Melbourne is one of the world’s great live music cities, and continued investment in venues is essential to maintaining that position,” said Klos.
The precinct will also include a full-line Coles supermarket, gym, childcare, commercial space and a retail and hospitality precinct.
Land has been identified for a future government primary school, which will complement the planned new government secondary school in Arden.
Melbourne Victory will establish its new Arden Campus, including a hub for women’s and youth female pathway programs.
A Community Field and Community Hub will be shared with future community soccer teams, the university and future schools.
The University of Melbourne will establish an extension of the Melbourne School of Design, to be known as MSD+.
It will include a developer-funded research grant for the life of the project, centred on nature-based excellence in urban development.
Nature sits at the centre of the design.
More than 45 per cent of the site will be dedicated to parks, living landscapes and gardens, including eight new parks, community sporting fields and a 7,500sqm park inspired by the historic blue saltwater lake that once characterised the region.
The open space is equivalent to around eight football ovals.
Guided by the principles of Designing with Country, Arden Central will be the City of Melbourne’s largest infill parkland and housing precinct designed in partnership with Wurundjeri Woi-wurrung Elders and communities from the outset.
Urban realm designer Gehl Studios has curated the public spaces around connection, activity and wellbeing.
Hameister outlined the lifestyle the precinct aims to offer.
“Arden Central is designed to bring a different kind of city life to Melbourne, one where the neighbourhood feels more like a campus, walking is the natural way to move around and nature is woven into everyday life,” said Hameister.
Addressing housing supply and affordability, up to 10 per cent of homes in the first stage will be offered to first home buyers.
Arden Central is expected to create more than 1,100 full-time equivalent jobs on site once complete.
Hostplus, one of Australia’s largest industry super funds with more than 2 million members and over $160 billion in funds under management, said the project shows how institutional capital can help unlock major developments.
The precinct will be all-electric and aims to achieve 2040 net zero carbon operational energy, a 6-Star Green Star Communities rating, an 8-Star NatHERS rating for apartment buildings and 6-Star NABERS energy and water ratings for all buildings.
