Melbourne's St Kilda Road is set to welcome a resurgence of new development
St Kilda Road has been the subject of multiple waves of reinvention over the years, and the area is once again in the spotlight, thanks to renewed government and private development interest.
Once flanked on both sides by ornate colonial mansions, St Kilda Road was historically coveted by affluent Melburnians. It was the changes to zoning regulations in the 1950s that transformed the residential area into an extension of the CBD, dominated by commercial office buildings.
In a full turnaround, developers have again focused their attentions on the area’s potential for luxury city living. As a result, elegant residential towers are beginning to appear along the St Kilda Road corridor.
One such development, The Muse apartments, symbolises the return of ultra-luxury living along St Kilda Road. Featuring panoramic views from Port Phillip Bay to the Botanic Gardens, The Muse will boast opulent living at its peak, with its penthouse holding a city-wide price record of $45 million.
Beyond St Kilda Road's potential for residential luxury living, developers have also taken into account the considerable government investments in the area – such as the Metro Tunnel and ANZAC station which are currently under construction. The state government estimates that 20,000 commuters will pass through the concourse of Anzac Station daily, and residential developments in the area will be some of the first to benefit from the new infrastructure.
Wuzhong International Director David Shen anticipates a domino effect is likely to occur in surrounding suburbs, which will include their latest development Bowen & Queens which is due for completion by 2021.
“It is expected the area will be completely revitalised in the coming years, thanks to the effects of ANZAC Station. When constructed, the transport hub will bring foot traffic and with it, more vibrancy, helping the area become an extension of bustling neighbourhood suburbs like South Yarra”
St Kilda Road is already the busiest tram corridor in the city, so the metro station will help streamline commutes in the area by providing direct connections to the Cranbourne and Pakenham train lines. Alongside $27 million invested in bike lanes, the Southbank Arts Precinct, comprising of the National Gallery of Victoria, the Arts Centres, and various other institutions, will also be a recipient of St Kilda Road’s concerted revitalisation works.
“We have made major investments in the St Kilda Road area, particularly with the redevelopment of the Melbourne Arts Precinct and the NGV Contemporary as its centrepiece.”
Hon. Martin Foley, State MP for Albert Park
The new art gallery, to be built on the site of the Carlton & United Breweries Building, will surpass Hobart’s Museum of Old and New Art (MONA) to become the country’s largest contemporary art gallery.
The State MP for the area is confident that its investments along St Kilda Road in Southbank will help generate more buzz and foot traffic for the area.
“The project will bring the Southbank and Arts Precinct to life, with 18,000 square metres of new and renewed public space – enabling visitors to move seamlessly from Southbank and the Yarra, through Melbourne’s iconic St Kilda Road cultural institutions.”
Martin Foley, State MP for Albert Park
From Southbank to South Yarra, St Kilda Road is ready for a renaissance for both its residents and workers. Time will tell the full effects of the various government and private investment in the area. Still, all signs point to a revitalisation of what is arguably Melbourne’s most elegant strip.
Lead image: Aerial from above showing Bowen & Queens render amongst St Kilda Road developments. Credit: Wuzhong International.
