Federal approval granted for thousands of new homes near Queen Vic Market.

At AusNewsLanka, we aim to keep the Australian community informed with timely updates.

A huge housing project that will completely reshape part of Melbourne’s Queen Victoria Market precinct has just cleared a major hurdle — it’s been given the green light by the federal government.

The City of Melbourne first revealed plans last year for a brand-new precinct called Gurrowa Place, featuring three new buildings and hundreds of apartments. Now, after getting environmental approval (with some design conditions), the development is officially one step closer to reality.

Because the Queen Vic Market is heritage-listed, the project needed federal approval. Environment and Water Minister Murray Watt said the conditions would make sure the market’s historic character is preserved while still delivering much-needed housing.

“Through thoughtful design, this project will provide new and much-needed housing while ensuring this Melbourne icon can be enjoyed for many years to come,” he said.

Melbourne’s Lord Mayor Nick Reece called it “the biggest mixed-use development project in council’s history” and a “huge step forward” after nearly a decade of planning and regulatory reviews.

The development — led by Lendlease — is set to bring homes for around 3,700 people into the heart of the city. The plans include two residential towers, a student accommodation tower, and a low-rise civic building right next to the market.

Reece said it will also give a big boost to local businesses, attract more visitors, and help tackle the housing crisis, with 130 of the apartments set aside for affordable housing.

Lendlease’s Tom Mackellar said the project will protect the market’s future while honouring its history, with the Franklin Street stores being restored and repurposed as part of the broader renewal program.

Federal Housing Minister Clare O’Neil called housing a “life-defining challenge” and said this project will make “a real impact” on housing accessibility in Melbourne.

After nearly 10 years in the works, it’s finally full steam ahead — and for a city battling a housing crunch, it couldn’t come soon enough.

Stay tuned with Aus News Lanka – the leading platform for news for Australians.