- Seafarers will be the largest private project to start construction during the pandemic
- 120 luxury residences and 277 hotel rooms will be produced across 18 storeys
- The precinct will include the heritage listed Goods Shed No.5. building
A luxury waterfront $550 million development in Melbourne has officially commenced construction, with the occasion marked by a groundbreaking ceremony attended by the Lord Mayor of Melbourne, Sally Capp.
Riverlee’s Seafarers development has become the largest private project to begin construction since the start of the pandemic.
The located along there Yarra River in what will become Melbourne’s Northbank precinct, the project will produce 120 luxury residences atop 277 hotel rooms along with a 3,500 sqm public park space.
Riverlee’s development director, David Lee, welcomes the major milestone for Seafarers, a place which he believes will bring Northbank to life and be for all Melburnians and visitors will enjoy.
“After a challenging two years for everyone, we are proud to have reached this stage as we continue to stimulate the local economy through ongoing job creation, housing and tourism.
David Lee, Riverlee’s development director
Icon has been appointed as the builder to deliver the project which is anticipated to create 1,023 full-time equivalent construction-related jobs along with an estimated 680 ongoing jobs upon completion.
“The residential component of Seafarers is very much designed for the owner-occupier market and this has remained resilient throughout the pandemic, a testament to the confidence in quality and the opportunity to live at a unique location,” says Mr Lee.
Residences are to be a part of Australia’s first 1 Hotel & Homes from SH Hotels & Resorts, a firm known for valuing sustainable design and architecture and producing a distinctive brand of luxury lifestyle dwellings.
Since October 2021, sales and reservations for residences have reached the $30 million mark.
The precinct and residences architecturally designed by Fender Katsalidis, will also encompass the heritage listed Goods Shed No.5.
The park, Seafarers Rest, will form part of the City of Melbourne’s Greenline Plan and provide a connection from the Northbank precinct to the CBD.
Lord Mayor Sally Capp, welcomes the development
“The Seafarers project complements City of Melbourne’s game-changing transformation project Greenline, which will revitalise and renew Northbank,” she said.
“Investments of this magnitude show the confidence and strength of Melbourne’s future as we bounce back from a tough two years.”
The project is expected to be completed in mid-2024.
