The Victorian Coalition Government has given its approval for the construction of the ‘Australia 108’ tower in Melbourne.
Upon completion, the 108-storey tower will become the world’s 19th tallest building and will be 91m taller than the Eureka Tower, according to a statement released by Victorian Minister for Planning Matthew Guy.
Designed by Fender Katsalidis Architects, Australia 108 will be 388m tall and feature 646 apartments, a 288-room hotel, and retail and office space.
The state government is expected to invest $600m in the landmark project, which is forecasted to create 300 jobs in the construction and hospitality industries.
Matthew Guy said the tower will signify the best of Victorian architecture and a drive for enterprise and ingenuity that Australia had never seen before.
"I am proud to approve a tower that will define our city for many years to come and which I am sure will become as iconic a Melbourne landmark as Flinders Street Station or Federation Square," Guy added.
"The Australia 108 mixed-use tower will be an icon both visually and for those who will live in it, stay at its hotel, dine at the level 84 Sky Lounge or visit the level 108 Star Bar".
Construction of the new tower was considered for approval by the Planning Minister after taking into account the issues raised by the City of Melbourne’s recommended permit conditions and endorsement issued by the Shrine of Remembrance trustees.
"The skyscraper forms part of Coalition Government’s strategy to concentrate high-density development in defined areas and out of existing, quiet neighbourhoods," Guy said in the statement.
"Every apartment in this tower is one less apartment in an existing quiet neighbourhood."
Image: Upon completion, Australia 108 will be 388m tall and feature 646 apartments. Photo: Fender Katsalidis Architects.