Fishermans Bend vital for jobs and increased housing density

The Property Council of Australia welcomes the Government’s release of the Fishermans Bend Draft Framework. 

Victorian Executive Director Sally Capp said that Fishermans Bend is recognised as a vital area for significant jobs growth and increased density that will help address housing shortages arising from Melbourne’s rapidly growing population.

“Melbourne is the fastest growing city in Australia. Urban renewal is an important way to provide exciting places to live, work and play and Fishermans Bend will contribute significantly to managing growth pressures”, said Ms Capp.

The Property Council praised the Government’s approach to creating a thriving and sustainable community and the adoption of ambitious targets for housing, jobs and non-car trips, but urged the Government to provide more information and certainty about the funding to be made available to make this vision a reality. 

“It is crucial that Fishman’s Bend creates the right kind of environment to attract businesses of all sizes. This in turn will assist in a vibrant streetscape day and night, weekdays and weekends” said Ms Capp.

The Property Council acknowledges the Government’s support for industry to provide essential public infrastructure upfront, rather than through a contributions process. Community infrastructure is best delivered at the start of a development, not at the end.

“The industry is well placed to provide high quality community facilities and infrastructure as an integral part of a development, making them available when residents and workers first arrive and giving greater transparency about the substantial developer contributions being made,” said Ms Capp.

“To attract major employers there will need to be mass transit options in Fishermans Bend.  With Melbourne Metro 2 on the horizon, industry and government must collaborate to release value, rather than impose further taxes and charges.

“There are a number of ways to unlock the value in an urban renewal site, and we call on the Government to look to new ways of releasing value, and not rely on quick fix, quick tax solutions”, said Ms Capp.

The Property Council also warned against burdensome planning restrictions that could stifle development and deter design innovation. “Fishermans Bend needs to be a precinct that says yes to good design, and enables a creative mix of dwelling types to meet diverse and changing housing needs,” said Ms Capp.

Media contact: Sally Capp | E scapp@propertycouncil.com.au