Hamton and Hostplus have been appointed to deliver a $7 billion housing and cultural precinct at Melbourne’s Arden, with plans for more than 5400 homes, a 5000-capacity music venue and 5.5ha of public open space.
The joint venture was selected through a competitive tender overseen by Development Victoria on behalf of the Victorian Government to transform land about 1.5km north of the CBD.
The 25-year project will include retail, hospitality, sporting and education facilities, with the first residential building expected to be completed by 2032 following major civil infrastructure works.
Stage One will target about 1700 homes across 45 per cent of the overall precinct area, including key amenities and public spaces.
The broader development is planned to accommodate more than 10,000 residents, with more than 45 per cent of the site dedicated to parks, gardens and landscaped areas.
Live Nation will deliver and operate a 5000-capacity live music venue expected to host more than 100 events a year, while a retail and hospitality precinct will include a full-line Coles supermarket, smaller retailers and outdoor dining.
Melbourne Victory Football Club will establish an Arden campus with women’s and youth female player pathways, a community field and a shared community hub.
The University of Melbourne will establish an extension of its Melbourne School of Design at Arden Central, including a research grant funded by the developer for the life of the project, focused on nature-based urban development.
Land has also been identified for a future government primary school, complementing a planned government secondary school elsewhere in Arden.
The precinct will include eight new parks, community sporting fields and a 7500sq m park inspired by the historic blue saltwater lake that characterised the area.
The project will be designed in partnership with Wurundjeri Woi-wurrung Elders and communities, guided by the principles of Designing with Country. Gehl Studios has been engaged to shape the public realm around walkability, biodiversity and community use.
Up to 10 per cent of homes in the first stage will be offered to first-home buyers. The completed precinct is expected to support more than 1100 full-time equivalent jobs on site.
The development is reliant on the Victorian Government’s investment in Arden Station, which the project partners said had made the transformation possible.
Hamton founder and executive chairman Paul Hameister said the project would combine culture, entertainment, sport and nature in a new neighbourhood close to the CBD.
Hostplus chief executive David Elia said the investment was designed to deliver long-term value for the fund’s members while contributing to housing supply and economic growth.
The joint venture partners are also working together on the $3.5 billion redevelopment of Moonee Valley Racecourse.
