Caulfield property development announced
17 Aug 2012 | The Melbourne Racing Club and the Beck Probuild Consortium on Friday announced that they have concluded an agreement to develop five hectares of land adjacent to the Caulfield Racecourse, Caulfield Train Station and Monash University.
The winning consortium is a joint venture between the Beck Property Group and Probuild Constructions.
Beck Property Group is one of Australia's foremost Developers renowned for the quality and community integration of their developments.
Probuild Constructions is a Melbourne based Australian construction business who have built a reputation as one of the leading construction brands in Australia.
The new project will create a thriving, integrated, mixed use community with access to major transport routes, shopping and recreation designed to integrate with the character and facilities of the surrounding community.
There will be three primary precincts.
Precinct 1 to the west of the development being a low / medium density residential area designed to integrate into the surrounding existing neighbourhood and streetscapes.
Precinct 2 will be a mixed use precinct with active street frontages, tree lined lane ways and a vibrant exciting retail including supermarket and specialty shops. There will also be a restaurant hub established around the new Boulevard road link.
Precinct 3 will encompass the Smith Street Precinct based in the eastern section of the site adjacent to Caulfield Station comprising a mix of commercial, residential and retirement accommodation.
A new street, "The Boulevard" will be created and be the heart and soul of this project.
The development is expected to take up to 15 years to complete and include in excess of 1,500 dwellings of varying product mix and configuration, office and retail offerings including a full line supermarket, pharmacy, cafes, restaurants and lifestyle health and gym facilities.
During construction the development is expected to generate up to 5,000 jobs and an ongoing 1,100 jobs once completed contributing to local and broader economic growth. First construction is anticipated to commence within 24 months.
The planning approval has been accomplished in close consultation with the City of Glen Eira, local community, State Planning Authorities, local MP David Southwick and a range of other stakeholders.
In the process of selecting a developer, the Melbourne Racing Club placed particular emphasis on the quality of the proposed development, the local amenity that would be provided and how the development would integrate into the existing community and environment.
The Melbourne Racing Club is a permanent stakeholder in the area and as such has committed that the development planning process will ensure the development adds significant energy, lifestyle and cultural strengths to Caulfield.
In that respect the choice of the Beck Probuild Consortium has been important in ensuring that this development is a world class residential and mixed use development designed to enhance all aspects of the surrounding community and racecourse.
The Melbourne Racing Club is also undertaking major enhancements to the infield of Caulfield Racecourse to provide a major community benefit covering:
5 activated precincts
Children soft fall facility
Dog off leash area
Junior football pitch
Parking for the new project will be fully contained within the development with race day parking accommodated within existing racecourse car parks.
An extensive communication plan will be produced to outline the timing and detail of the development as Master Plans are finalised.
MRC Chairman, Mike Symons, said:
“We are delighted to join with the Beck Probuild Consortium in the commencement of this exciting development not only for the Caulfield area but also for greater Melbourne. The development will be of the highest quality integrating the Caulfield Racecourse, Train Station, Monash University and surrounding community in a way that will bring a new vitality to the area.”
Consortium Director, Sam Beck, said:
“Our Consortium brings to this most exciting development a passion to deliver a world class new suburb for Melbourne and the local community. We are delighted to be able to participate in this development with the MRC and look forward to delivering its vision for rejuvenation this exciting precinct, adding to Melbourne as being the world most liveable city.”
Probuild Managing Director, Phil Mehrten, said:
"Today's announcement is a great outcome for Melbourne's construction industry. This will mean jobs, investment and is a vote of confidence in the future of Melbourne's development industry. Probuild is delighted to be working with both Beck Property Group and the MRC to bring this project to fruition.''