The project director of a $1 billion residential, retail and office development in Melbourne’s east has talked Projectory through the upcoming tender process. Private developers Schiavello and The Saraceno Group are teaming up for the new project, which will be located near Monash University.
The development, M-City Monash, will be situated on a 3.52ha parcel of land on the corner of Blackburn Road and Princes Highway. The new project will include the construction of three residential towers and a nine-level office tower. The scope of work also includes the construction of a 250-bed international hotel. Retail and convenience stores are also planned as well as a cinema complex.
“The early works package is currently in the final stages of tender,” Vito Chiodo, National Property Executive at Schiavello communicated. “That package will be let by the end of June. We are planning on putting the construction works to tender by July, with the aim to mobilize or start construction by the end of the year.” The project is expected to be complete in 3.5 years.
“We anticipate that 1,500 direct and indirect jobs will be created, and we have a strong preference for procuring within Australia.”