Fishermans Bend infrastructure plan approved for $3 billion renewal

The Victorian Government has finalized and approved the Fishermans Bend Urban Renewal Area Development Contributions Plan (DCP) and a complementary open space uplift (OSU) mechanism. This framework aims to provide investment and planning certainty for Australia’s largest urban renewal precinct, which covers approximately 485 hectares in south Melbourne.

The plan outlines a funding approach for approximately $3 billion worth of infrastructure, encompassing more than 117 projects. These developments, scheduled to be delivered in three phases through 2055, include roads, parks, drainage, community facilities, public spaces, and transport connections. By 2050, the area is expected to accommodate roughly 80,000 residents and provide employment for up to 80,000 people.

The new DCP replaces interim arrangements used since 2014 with a more transparent system managed by the State Government. While new developments will contribute to major infrastructure through this streamlined system, projects that have already received development approval will continue under their existing contribution arrangements. The DCP and OSU apply to the Lorimer, Montague, Sandridge, and Wirraway precincts.