CONSTRUCTION of $440 million super tower Aspire Melbourne is now underway in the city centre, kicking off as the state government sets further projects in motion to boost the construction sector.
Hickory has been appointed to carry out the circa $180 million construction contract.
The 65-storey tower designed by Elenberg Fraser is the latest project by developer ICD Property, in joint-venture with MaxCap Group.
Archaeological excavations were required onsite prior to construction commencing, which unearthed remains of an eighteenth-century girls’ school and thousands of artefacts that date back to the start of Melbourne’s European settlement.
Working alongside Heritage Victoria, the significant artefacts will be kept and managed at the Archaeology and Research Centre.
Adjacent to Flagstaff Gardens, the skyscraper received financial backing from global conglomerate Goldman Sachs, in partnership with MaxCap Group, and is anticipated to begin staged completion by October next year, with full completion by early 2022.
About 1,000 jobs are expected to be created over the project’s three year construction life cycle.
The Victorian government has just fast-tracked more than $1.2 billion worth of building and development projects, extending an approval spree that it hopes will give the weakened construction sector a much needed boost.
Many of the projects are in the CBD or inner suburbs. The latest round includes V-Leader’s
41-storey hotel building a short distance from Aspire Melbourne, as well as Hong Kong-listed Far East Consortium’s 68-storey tower on Bourke St that will include 857 apartments.
Planning Minister Richard Wynne last month gave the green light to $3.5 billion worth of projects, including what will be Australia’s tallest tower while announcing the establishment of Building Victoria’s Recovery Taskforce, and has more recently announced $2.7 billion of building and infrastructure projects.