Queen Victoria Market towers approved

The Victorian Department of Transport and Planning has approved a $1.7 billion project to create three towers adjacent to Melbourne's Queen Victoria Market.

To be known as Gurrowa Place, the project is part of the largest urban renewal project undertaken by the City of Melbourne, which will revitalise a 3.2-hectare site south of the heritage market.

Designed by NH Architecture, Kerstin Thompson Architects, 3XN Australia, Searle × Waldron Architecture, Openwork, McGregor Coxall, Lovell Chen and Urbis, Gurrowa Place will comprise three towers, a Market Square, a cultural and civic building, new car parking and the restoration of the Franklin Street Stores.

The three towers will comprise a 125-metre-tall commercial office building, a 162-metre-tall residential building with 15 percent of the net floor space allocated to affordable housing, and a 183 metre-metre-tall student accommodation building.

Developer Lendlease also announced it has executed contracts between the City of Melbourne and student housing provider Scape.

Across the development there will be approximately 560 build-to-rent apartments, 80 affordable homes, and 1,100 student residences.

Lendlease and the City of Melbourne will also collaborate on a 1.8 hectare public park on the site.