Lendlease, in partnership with the City of Melbourne and student housing provider Scape, has secured final heritage approval for its Gurrowa Place mixed-use Build to Rent development. Approval for the Development Application (DA) was secured last year.
The approval by the Federal Government is in addition to relevant state planning and heritage approvals, and supports the delivery of new, well-located homes, student housing, public open space, and complementary retail alongside the restoration of the Franklin Street stores.
Gurrowa Place will comprise approximately 622 Build to Rent apartments, with around 79 affordable homes, and around 1,150 student residences by Scape, set across two residential buildings.
“Gurrowa Place is one of the most exciting urban regeneration opportunities in Melbourne, set to deliver high-quality and diverse new homes on the doorstep of the beloved Queen Victoria Market.
“A new 1.8ha park, new basement parking for visitors and traders, and the restoration and conversion of the Franklin Street stores will support the market’s broader renewal program, helping to secure the market’s future while also maintaining and celebrating its rich history.”
Adam Williams, Executive Director Development, Lendlease
As part of the federal heritage approval, Lendlease has proposed an amendment to the third building included in the scheme’s approved masterplan to deliver an additional 507 Build to Rent apartments and 55 affordable homes.
In total, this could see over 2,200 new Build to Rent apartments and purpose-built student accommodation (PBSA) beds delivered, including over 130 affordable homes.
“Lendlease and the City of Melbourne can now confidently move forward with groundbreaking plans to transform the precinct – attracting thousands of new residents, workers and visitors, while boosting business for traders.
“This development will also make a major dent in the housing crisis – delivering new homes, including affordable housing which the city desperately needs.
“This is the biggest mixed-use development project in Council’s history.”
Nicholas Reece, Lord Mayor, Melbourne
Gurrowa Place will also include a 1.8-hectare public park – known as Market Square – designed by the City of Melbourne in collaboration with Lendlease, and the heritage restoration of the Franklin Street stores, which will enhance the market experience to attract more customers and boost business for traders.
Located close to public transport connections and Melbourne’s medical, education and research precincts, the 3.2-hectare site is adjacent to the QVM, bordered by Franklin, Queen and Peel streets. A 220-space basement car park will also be delivered for visitors and traders on-site.
Site works at Gurrowa Place are expected to start in 2026.
