Development Victoria is considering the next steps for the landmark Junction Place precinct, after ending its Development Agreement with private developer, Central Place.
The decision was made due to a lack of progress with the project. It means Development Victoria can now take back control of the project and work on its next phase.
Development Victoria’s Group Head Precincts, Geoff Ward, said it was not a decision taken lightly, however, there were obligations in the Development Agreement that had not been met by the developer.
“We are disappointed at the lack of progress on Junction Place to realise the original vision for the project,” Mr Ward said.
We are working with Council and the community about the project’s future to ensure we achieve a great outcome for the site.
Updated on 26 May 2023