The Skys the Limit : Massive Melbourne Skyscraper Project
Latest project in Melbourne involves erecting the tallest building in Australia!
Soon enough a spiralling twisting tower will be appearing above the Melbourne skyline and establish itself as the tallest building in Australia, if not the region. The project approved by the Victorian government and valued at an approximate $2bn will be a game changer for those associated with Southbank precinct economically.
Termed as STH BNK by Beulah, the project involves construction of a two towers (one taller than the other) one of which will be taller than the 322m Q1 building in the Gold Coast which is currently the tallest building in Australia. The shorter tower hovers over the Melbourne skyline at 288 meters whereas the taller counterpart measures at 366 metres.
The structures will consist of offices, apartments, a luxury hotel (300 + rooms), a high-end conference hall and as well as an entertainment centre. Additional features include a health precinct, a garden on the 102nd floor (rooftop garden) in addition to a 6sq KM of green space.
The twin tower project was described as “jaw dropping” and “awe inspiring’ by Sally Capp, Melbourne’s lord mayor who is certain that the project will bring about numerous benefits to the city that is evidently going through a major facelift.
Melbourne has become a hub of construction projects that are all currently taking place at once and more projects are in the pipeline. This project and other projects that are currently taking place within Melbourne’s boundaries have already generated billions in investments ‘into Melbourne (foreign and domestic investments).
The twin tower project alone according to Capp has generated close to 5000 jobs within the arena of the construction industry, and currently, the construction sector of Melbourne is providing tens of thousands of jobs which are causing a positive reverberation in the local economy. The fact that such projects are also breathing life into businesses that are directly and indirectly affiliated with the construction industry also cannot be overlooked as the projects have resulted in many businesses being able to recover from the impact of the COVID 19 pandemic which devastated the construction sector.
Business that offer transport of construction material and equipment, business that offer services as construction equipment rentals who offer equipment such as excavators for hire and the SMEs that offer unique and specific services have all benefitted from the current wave of projects that are swirling inside Melbourne.
The fact that most of the companies that are managing these large projects are obtaining resources such as building material locally has also bumped up the economy significantly. Another element that has been observed is the fact that most of these large construction companies are not purchasing new equipment and are resorting to renting machines such as excavators from local construction equipment rental companies.
This basically means that most of the investments that these projects have attracted into Melbourne are mostly being kept within Melbourne which is a very good position for the city in any given perspective!