Victorian Planning Minister Matthew Guy has announced the approval of a planning scheme amendment to allow for the $1 billion Caulfield Village development.

 

The mixed-use Caulfield Village development is close to the Caulfield Railway Station and has been in the pipeline since 2007.

 

The development will include 1200 apartments, 10,000 sq m of office space and 15,000 sq m of retail space. Two thousand car park spaces will be provided.

 

The plans range from two storeys close to the existing residential area to a height limit of 20 storeys in the far eastern precinct.

 

It will be built on five hectares of land that is currently used as a car park.

 

“This $1 billion development at Caulfield is an excellent example of the positive outcomes that can be achieved when state and local government work together,” Mr Guy said.

 

“This is a prime example of the urban renewal in key inner-city areas that the Victorian Coalition Government has been promoting.”

 

The development will take seven to 10 years to build.