Twin towers to be built on land once intended as green space next to Melbourne’s Marvel Stadium

Land once intended to be an area of green space next to Melbourne’s Marvel Stadium will instead now be developed as two 100 metre towers.

The prime land at the eastern end of the city’s La Trobe Street was sold by the AFL to a developer for an estimated $60 million in June last year as the sport faced financial difficulties due to the temporary shutdown of the season caused by COVID-19.

The land, facing gate seven at the northern end of the AFL-owned venue, will now be the site of a $230 million development of twin high rise residential towers rising up to 100 metres in height. When complete, they will feature 676 ‘built-to-rent apartments and more than 3000 metre² of retail space. Also included in the development is a communal relaxation area, 25 metre pool, games room and outdoor terrace in a three-level podium.

The development will also give the AFL the option to access significant multipurpose space on the concourse level of the development, with direct access to Marvel Stadium.

In its proposal to the Victorian Government in January, land owner GFM Investment Management Limited said the development would “improve Docklands as a destination.”

The Herald Sun has reported that Victorian Planning Minister Richard Wynne called in and approved plans for the towers.

AFL Chief Executive Gillon McLachlan reportedly wrote a letter of support for the developer’s plan and oversaw the onselling of the land.

The AFL previously placed a deposit on the land and intended to buy it last year to add green space to its Marvel Stadium redevelopment plans.

Marvel Stadium once stood alone when it opened in 2000, but is now surrounded by six towers, blocking the view of the 55,000-capacity venue from various vantage points.

Images: Detail of the proposed twin towers development next to Melbourne’s Marvel Stadium (top) and the venue under construction in an underdeveloped Docklands in 1999 (below, credit: Development Victoria).