DEVELOPER Riverlee’s $500 million Seafarers project is ready to sail after gaining final approvals from the Victoria government.
Situated next to the Mission to Seafarers on the northern bank of the Yarra River, the site has remained dormant for over 40 years and is the last remaining waterfront opportunity in the CBD.
Upon completion in 2023, the mixed-use riverfront precinct will be home to Australia’s first 1 Hotel & Homes lifestyle offering comprising 123 luxury residences and 277 guest rooms, a luxurious lobby lounge bar, world-class event venue and meeting spaces, a state-of-the-art health centre, food and beverage offerings and a 3,500sqm public park, known as Seafarers Rest.
Restoration work on the historic Goods Shed No.5 is currently underway.
Riverlee development director David Lee said Seafarers is a key development project for the City of Melbourne.
“Over the past 10 years, we’ve been dedicated to planning and designing a new riverfront precinct that will inspire, excite and bring new life to the Yarra in a never before seen way in Melbourne.
“It is a huge achievement to see activity start on site and we hope this will provide a glimmer of hope to the Melbourne economy.” Lee said.