The Victorian government has approved the next stage of plans to revitalise Melbourne’s iconic Queen Vic Market, securing its future as a key social and cultural landmark while delivering hundreds of new homes.
Minister for Planning Sonya Kilkenny announced today that planning permits for the Queen Vic Market $1.7 billion mixed-use development have been approved. Delivered in partnership with Lendlease, Scape, and the City of Melbourne, the development will feature around 560 build-to-rent apartments, with 15 percent dedicated to affordable housing.
Student housing provider Scape will also deliver an additional 1,100 beds for university students. The development aligns with the Labor Government’s Housing Statement target, which aims to enable 800,000 new homes over the next decade in areas close to jobs, transport, and services.
Queen Vic Market redevelopment
- $1.7 billion mixed-use development
- 560 build-to-rent apartments
- 1100 student beds by Scape
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In addition to new housing, the redevelopment will create more space for shops, including along the restored Franklin Street, and a new community space fronting Queen Street. At the heart of the precinct will be Market Square, a 1.8-hectare public park designed as a gathering place for the community and visitors to enjoy events, festivals, and outdoor activities.
The development is set to transform the internationally renowned market precinct, attracting new residents, workers, customers, and visitors to the area. With a legacy dating back to 1878, Queen Victoria Market is an iconic Melbourne landmark, and stringent heritage controls will be upheld to preserve its unique character.
Minister for Planning Sonya Kilkenny emphasized the project’s importance, stating, “This project is delivering hundreds of new homes in the heart of Melbourne, giving more Victorians the opportunity to live close to jobs, transport, and services—all while protecting the heritage and charm that makes Queen Victoria Market such a beloved part of Melbourne.”
Lord Mayor Nick Reece added, “Gurrowa Place will be a landmark development for our city – creating a new precinct that will enrich the iconic Queen Victoria Market, bring high-quality and affordable housing into this growing neighbourhood, and help the City of Melbourne meet its housing targets.”
Find out more about the project here.
