The Melbourne home of Jetstar airline is set to turn into almost 500 apartments.
The home of Jetstar headquarters in Collingwood is set to take off for a new future hosting almost 500 apartments, a series of shops and a new neighbourhood garden.
The Victorian government has approved the $302m redevelopment of the 79-81 Victoria Pde site by Stockland, which is expected to commence construction in 2028 — generating an expected 470 jobs.
The building, which will include multiple complexes ranging from 17 to 23 storeys in height, was fast tracked through the Victorian Government’s Development Facilitation Program.
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Stockland bought the property for about $65m in late 2024, and filed the plans to redevelop the site earlier this year.
The budget airline’s lease ends in 2027, and they are expected to move to new digs in the 1MQ building in Melbourne Quarter near Southern Cross Station in Melbourne.
The building was sold by Henkell Brothers Investment Managers, run by opera enthusiast Hans Henkell.
Stockland apartments executive general manager Ben Christie said it would be the firm’s first Victorian apartment complex in almost 20 years, and provide a variety of home types and price brackets for the suburb’s housing supply.
Open green space is also part of the design plan.
The redevelopment will include a range of open spaces the public can access.
First-home buyers, downsizers, investors and other live-in owners are expected to account for most of the sales.
“As one of Australia’s largest residential developers, we are focused on delivering diverse housing options across the housing continuum and helping address Australia’s housing challenges,” Mr Christie said.
The Herald Sun understand that they have additional projects underway, but that have yet to have plans approved.
Mr Christie added that it would also provide wider public benefit, as well as delivering new housing.
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