Property developer PDG marks new milestones on its $750 million mixed-use Elizabeth North development, with the project given planning approval for its first stage and the appointment of construction company Probuild to deliver it.
“Together, we will deliver another best quality tower, this time in the commercial and mixed-use sector,” Probuild’s Victorian Managing Director Luke Stambolis said.
Elizabeth North is a 70,000-SQM development located at Elizabeth Street in Melbourne’s biomedical precinct - about 2 minutes from the future Parkville Station - and it will feature a combination of heritage-listed as well as contemporary buildings that are set to serve Melbourne’s education and biomedical precincts.
Stage One of Elizabeth North has already been fully leased, and Trinity College has taken a 10-year lease on a 9,500-SQM of the development for its state-of-the-art vertical campus in the city. Trinity College’s campus will be located right above Toyota’s new flagship - Melbourne City Toyota.
According to PDG Corporation’s Managing Director Vince Giuliano, this development is set to provide facilities to vital and growing industries in Melbourne; and it is in line with the State Government as well as Melbourne City Council’s strategic vision for this precinct.
“This dynamic precinct will be a new foundation for organisations that stand as global exemplars of their industries - driving the growth of knowledge, development of technology and success of Australia’s bright minds.
“We are excited to start this project with an accomplished builder. Probuild has delivered outstanding buildings in Melbourne and around Australia,” Mr Giuliano said.
Construction is anticipated to commence in the coming weeks, with both Stage One and Two due to be completed by 2022.
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Source: Probuild; Inside Construction