A Joint Venture agreement between Development Victoria - the Victorian Government’s property developer and major project agency - and the Australian Football League (AFL) will aim to explore redevelopment opportunities at two prominent Docklands sites on Harbour Esplanade to transform the waterfront.
The Joint Venture agreement for 140 and 160 Harbour Esplanade creates a major new development opportunity to deliver a range of potential uses housing, commercial and entertainment.
As the authority responsible for the development of Docklands, Development Victoria purchased the leasehold to 160 Harbour Esplanade, currently occupied by the Channel 7 broadcast centre, in 2018.
The Channel 7 building is adjacent to AFL House and the future redevelopment of these sites and integration with Marvel Stadium presents opportunities to deliver a mixed-use development that can help revitalise Docklands’ waterfront and enhance the Stadium as a sports and entertainment complex.
The Victorian Government has committed $225 million towards Marvel Stadium’s redevelopment to bring world-class sporting and entertainment events to Melbourne for the next 30 years.
A Planning Scheme Amendment application to change the Melbourne Planning Scheme to include potential building outlines and design requirements for future buildings on the sites has been lodged for consideration by the Minister for Planning.
Future designs for new buildings would also need to be separately approved by the Minister for Planning before any construction can begin.
“We are looking forward to working closely with the AFL on future development of these Harbour Esplanade sites,” Development Victoria’s Group Head of Precincts, Niall Cunningham said.
The Joint Venture approach will unlock a major new development opportunity in Docklands to deliver housing, commercial and entertainment to transform Docklands’ waterfront and enhance Marvel Stadium as a sports and entertainment complex.
Matt Chun, AFL’s Executive General Manager Finance, Clubs and Infrastructure said the Joint Venture with Development Victoria presented an opportunity to transform the highly prominent western side of the stadium.
Any future redevelopment also has the potential to showcase the stunning views the western side of the venue provides over Victoria Harbour. We are committed to delivering a memorable experience for fans and visitors to the precinct and excited by the opportunities this agreement with Development Victoria presents our site.
Updated on 12 January 2024