Fishermans Bend redevelopment
Nina TAYLOR (Albert Park) (17:13): (1323) My adjournment matter is directed to the Minister for Development Victoria and Precincts, and the action I seek is for the minister to visit Fishermans Bend to meet with local community members and businesses and discuss the transformation of this nationally significant precinct. I recently met with the minister to discuss the importance of ensuring livability as Fishermans Bend grows over the next 30 years. Already great progress has been made with the Victorian government’s $197.7 million investment, kickstarting the Fishermans Bend innovation precinct on the former General Motors Holden site. Stage 1, being delivered by Development Victoria, includes the remediation and installation of commercial infrastructure and services to create an investment-ready precinct. We are already seeing tangible outcomes, with 1500 new weekly bus services running between Fishermans Bend and the city. The government has also confirmed a preferred route for a future rail tunnel and station locations, which will further unlock the precinct. Fishermans Bend is Australia’s largest urban renewal area, covering around 480 hectares, more than twice the size of the CBD. By 2050, it will be home to 80,000 residents and provide employment for up to 80,000 people. The transformation is guided by the Fishermans Bend Framework, ensuring parks, schools, roads, transport and community facilities are delivered to support growth. There is currently a $7 billion pipeline of private sector property development in Fishermans Bend.
That includes over 15,000 new homes, 2700 of which are constructed and a further 1500 being built right now. This development pipeline also includes commercial floor space to accommodate 10,000 new additional permanent workers in addition to the 28,000 workers employed in the area now, 600 social and affordable housing homes and 2400 homes which will be available exclusively for renters. The majority of construction activity is occurring in the serviced Montague precinct, close to South Wharf and South Melbourne Central.
There is so much more to do, which is why I continue to fight hard for this growth area in my community. My constituents are eager to hear directly from the minister about her vision and goals for Fishermans Bend and to share with her their priorities for the years ahead. I look forward to welcoming the minister to Fishermans Bend to meet with our local community and businesses.