Federation Square East Request for Industry Submissions underway
The Victorian Coalition Government’s Request for Industry Submissions on the Federation Square East site has commenced, Minister for Major Projects David Hodgett announced today.
“The Coalition Government is looking to harness the innovation and creativity of the private sector for proposals to develop this important site,” Mr Hodgett said.
Mr Hodgett said the Coalition Government is seeking proposals from industry to understand the structures that the market considers could deliver a viable landmark development and a value for money outcome for Victoria. Specifically the Coalition Government is seeking feedback on:
- commercial structures;
- ownership structures;
- contractual structures;
- the apportionment of risk; and
- costs and extent of any State contribution required.
“From today, we are beginning a world-wide search for ideas for the Federation Square East site to transform it from a black hole in the city landscape to a mixed-use precinct with a focus on civic functionality and improved connections with its surrounding areas,” Mr Hodgett said.
“This project, like the Flinders Street Station Design Competition, is about finding new ways to revitalise the north bank of the Yarra and better integrate the CBD with both the river and our cultural, sporting and entertainment precincts.
“The Coalition Government acknowledges that there are challenges to developing this site in terms of cost and construction. We believe that industry is best placed to come up with innovative, value for money solutions.
“The aim is to find out what is possible and how much interest there is in developing the site. We do not have a predetermined outcome in mind.
“The responses provided will determine if there is sufficient appetite from the market and whether any project is viable enough to proceed further,” Mr Hodgett said.
The Federation Square East site is bounded by Federation Square to the west, Flinders Street to the north, Batman Avenue to the east and Birrarung Marr to the south. The majority of the site is currently taken up by rail lines. There is a total of 3.3 hectares of land included in the proposal, of which approximately 2.3 hectares is rail yards. The remaining hectare is currently used for car parking and associated uses.
Request for Industry Submissions documentation for Federation Square East is available from the Major Projects Victoria website at www.mpv.vic.gov.au
Submissions close on Thursday 18 July 2013.