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Victorian developer Hamton Property Group has secured planning approval to transform the former University of Melbourne site at Hawthorn into a $550 million nature-based neighbourhood that will deliver 365 new apartments to the precinct.
The project, which will comprise six low-rise buildings, a new retail village and provide 5,500sqm of publicly accessible green space, is one of the largest to be approved under the state government’s accelerated Development Facilitation Program, which seeks to reduce the application timeframe for eligible projects.
Hamton bought the former campus in early 2022 for a reported $50 million with contract for the Auburn Road site settling in March this year.
The deal was subject to rezoning with Hamton and the University of Melbourne lodging a joint application in March 2022 to rezone the 1.6ha site from public use to enable residential development.
Victoria’s Minister for Planning earlier this year approved the development plan which will be set amid landscaped parkland and natural habitat.
Hamton says that after extensive pre-application engagement, the company lodged its permit application with the Department of Transport and Planning (DTP) on 20 June and the permit was issued on 12 September, an approval timeframe of just two months and 23 days.
“This approval by the Minister is a great example that the Development Facilitation Program works,” says Hamton founder and executive chairman Paul Hameister.
“It has enabled this new significant housing supply in a high demand area of Melbourne where there are no other large development sites. The program has brought forward this project by around 12 months.”
Hameister says the DTP team was “incredibly responsive” throughout the review and approval process during a critical period for the construction sector.
“High construction costs have eroded development project viability across the country and is currently the primary barrier to delivering new housing supply,” he says.
“Accelerating timeframes for planning approvals is one mechanism to partially address current challenges.
“We engaged extensively with the local community in relation to our plans as part of the rezoning process and the views of Council and surrounding residents were considered as part of the public Standing Advisory Committee process in March 2023.”
Hameister notes that Victoria is facing a significant undersupply of housing, which is most acute in inner-city markets.
“This project will create a rare opportunity for buyers in a premium suburb that is highly sought-after,” he says.
The University of Melbourne sold the cite after declaring it surplus to its needs and had previously said it would apply the proceeds to its new $650 million Australian Institute for Infectious Disease in Parkville.
Hamton has started construction of a sales display centre on the site and will launch an expressions of interest campaign in late October with a public launch planned for February next year.
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