An overview of the projects in the vicinity of the new Parkville station
Parkville station, one of the five stations to be built as part of the new Melbourne Metro tunnel project has 22 projects in the development pipeline. As you might expect for Parkville, student accommodation projects dominate the area, so much so, they're in the minority using the 500m distance criteria.
As the crow flies, the University of Melbourne's Parkville campus is the dominant feature in the area, however, Carlton to the south and North Melbourne to the West are also scooped up.
Following on from the overview of Anzac station's development pipeline, we're also establishing a baseline for Parkville so we can monitor development change around the new stations over time.
On the residential side of the ledger, there are 12 projects which will offer apartments for sale and collectively they have 791 dwellings contained within them at the time of writing.
However, when you flip over to the student accommodation side of the ledger, there are 11 projects which will contain some student accommodation and there are a whopping 3000+ beds contained within them (there are 22 projects in total, some of the offer both student accommodation and private apartments).
Student accommodation projects are for the most part buildings of studios however some floorplate configurations include 2 and 3 bedroom apartments.
It should be no surprise to find so much student accommodation within the orbits of the University of Melbourne & RMIT's primary campuses plus all the smaller campuses of universities and other tertiary institutions in the CBD.
Should the second metro tunnel ever eventuate, Parkville station will become an interchange between the two lines, raising the station's profile even further which will possibly flow into the value of the land surrounding the station.
One stop down the line at North Melbourne (Arden), the state government will exert more control over the staging of development - as it is a major landholder in the area - however there is still a decent amount of pipeline activity already on land to the east of the station site. North Melbourne (Arden) is the topic for the next iteration in this series.
See below for a full list of projects that are located within the vicinity of the new Parkville station.
Lead image credit: metrotunnel.vic.gov.au.
