Approval granted for a major $150 million Geelong development
Geelong stands to gain the nation's first Holiday Inn Hotel & Suites outlet as part of a freshly approved mixed-use development.
44 Ryrie Street is backed by Franzé Developments and consists of a commercial tower alongside the Holiday Inn Hotel & Suites outlet. Owing to its overall size, the $150 million project was granted approval via the Planning Minisiter's office.
The Ryrie Street development shapes as the region's largest pending development and further adds to Geelong's growing impetus as a urban renewal hot spot. The 2,700 square metre corner site is located within the Geelong Activity Centre Zone.
Architectus handled design duties for the project, which sees an integrated and permeable street level link a multitude of uses. Approximately 1,000 square metres of ground floor retail space will tie the ground plane together, with the corner tower dedicated toward hotel needs.
The commercial tower is approved to include 7,400 square metres office space.
InterContinental Group will operate the Holiday Inn Hotel & Suites outlet on a 20-year agreement; the agreement between developer and hotel operator was reached during late 2017. Valued at $75 million, the hotel component represents the largest new hotel project in the region for near on 20 years.
What they say
Our vision for the Ryrie Street site is to deliver a truly mixed-use project that responds to the Central Geelong Action Plan which will see Geelong evolve from its manufacturing roots to a city of culture and innovation. Geelong is now one of Australia’s fastest growing regional cities, with population expected to grow by more than 150,000 people in the next 20 years, and the urban environment and amenity needs to respond accordingly.
Geelong has a diverse and strong economy with over 17,000 businesses and a highly skilled labour force. It continues to attract new residents and investment due to its livability and proximity to Melbourne, combined with increasing employment opportunities and affordability.
Paul Franzé, Founder and Managing Director of Franzé Developments
The design of 44 Ryrie Street draws upon the history of both the city and the site. The materiality, rhythm and scaling of the buildings reference the iconic wool stores of Geelong, and the grain of the city’s rich heritage fabric.
Creating an active mixed use development that incorporates hotel, residences, office and a vibrant retail ground plane, the project stitches seamlessly into the adjacent cultural precinct and builds on the investment in the area to become a gateway to Geelong's city centre.
Matthew Smith, Managing Principal at Architectus
Franze Developments made its move on the site during 2017, purchasing the site for $7 million. Shortly after the purchase intentions were flagged for the delivery of a mixed-use project which was expected to include the city's first new hotel in a generation.
Holiday Inn Hotel & Suites amenities will include an all-day dining restaurant and bar, swimming pool, gym, meeting facilities and a function room for 250 people.
The site's 90 metre frontage to Ryrie Street includes a new public thoroughfare linking Ryrie Street and Cuzens Place. The offices and apartments are linked to communal outdoor space under approved plans, with a vertical green wall facing Ryrie Street set to frame a new plaza.
Demolition across the site has begun with construction to start later this year. Holiday Inn Hotel & Suites has a nominated opening date during 2020.
