The Victorian Coalition Government has allocated $8 million over two years to progress development along Melbourne’s Richmond to Footscray rail corridor in its latest budget, the Deputy Premier Peter Ryan announced on Sunday.
“The Coalition Government’s vision is to transform Melbourne by unlocking underutilised land along the rail corridor,” Mr Ryan said.
“Projects under consideration such as the E-Gate development, Federation Square East, the Flinders Street Station redevelopment and the Richmond Station Precinct have the potential to deliver new jobs, better pedestrian access, residential housing opportunities, new open public space and better public transport facilities.
“This funding will allow business planning for visionary projects including the area currently known as E-Gate, for Federation Square East, for Richmond Station and Flinders Street station.
“E-Gate, for example, could revitalise one of the last remaining industrial spaces in the central city to create a new suburb of around 5,000 dwellings for up to 10,000 residents over the next 15 -20 years.
“At Federation Square East, the Coalition Government is looking to fill a hole in Melbourne’s landscape by creating a new commercial, residential and civic precinct connecting the CBD to the Yarra River and our sporting precinct, including Melbourne Park.
“The Flinders Street Station project aims to improve the station and cater for future patronage growth while protecting its heritage, developing its underutilised western end, revitalise the Administration Building, and increase connectivity with surrounding precincts.
“A redevelopment of Richmond station could provide much better pedestrian access to Melbourne’s sport and entertainment precinct.
“A redeveloped Richmond station could have a direct connection with the MCG.
“The redevelopment of the Richmond Station precinct could create a new gateway to Melbourne’s famous sports and entertainment precinct, while catering for future patronage growth and improving access for those with disabilities.
“Together this suite of projects represent opportunities for billions of dollars of development and thousands of jobs, creating a pipeline of potential projects stretching out for decades,” Mr Ryan said.
Major Projects Minister David Hodgett said the rail corridor development strategy was part of the Coalition Government’s policy of bringing surplus government land to market.
“We are committed to encouraging sensible redevelopment, new housing and employment opportunities by putting Government owned land to better use,” Mr Hodgett said.
“With Melbourne’s continuing growth we see opportunities to modernise how land around in the Richmond to Footscray corridor is utilised.
“This strategy is about opening up new areas of the city and strengthening our economically important arts, sports and events precincts within the central city.
“There will be a major role for the private sector in realising this vision and the opportunities these projects present.
“You get one chance to develop these prime sites on the doorstep of our CBD, and in each of these projects, the Coalition Government is taking a considered approach to planning and is looking to deliver outstanding outcomes for Victorian taxpayers.
“We only get one chance to do these projects and we want to get them right,” Mr Hodgett said.
Media contact: Les White 0409 805 122