New sustainable urban village in the heart of Richmond

21 February 2023

Vicinity Centres and Salta Properties, the co-owners of Victoria Gardens Shopping Centre, have unveiled plans for a sustainable urban village in the heart of Melbourne’s inner-city Richmond.

Victoria Gardens has served as inner -east Melbourne’s premier retail and lifestyle destination for almost 19  years.

Vicinity Centres and Salta Properties are planning for the site’s next evolution with a mix of residential, commercial, retail, lifestyle and entertainment destinations to serve the inner east for the next two decades and beyond.

The vision is to unite Victoria Gardens with Richmond’s evolving urban environment via wide, active street frontages, a new fresh food market hall, civic plazas, and a network of open-air laneways that will truly connect the centre to its surrounds for the first time.

Vicinity’s Chief Executive Officer and Managing Director, Peter Huddle, said, “The proposal reflects the long-term strategy to transform the site to a sustainable mixed-use, urban village, while also responding to the change in consumer preferences to live, work and play close to home.

“The development will seamlessly connect Victoria Gardens to the surrounding community and deliver a vibrant fresh food Market Hall for Richmond’s growing population. It will also offer more diverse housing options in an amenity-rich, urban environment to improve wellness, productivity, and social connection.”

Victoria Gardens Doonside street entrance AI

Key to realising the value of Victoria Gardens in a popular pocket of Melbourne’s inner east, well connected by public transport, will be the proposal’s creation of 1,679 new homes, with a mix of one, two and three-bedroom residences.

Salta’s Managing Director, Sam Tarascio said, “The vision for the evolution of Victoria Gardens was the creation between Vicinity, Salta and one of Australia’s best architects – Cox and NH.

Sam Tarascio Salta Managing Director said “It will deliver new public realms and open spaces and evolve to become a place to not only work and shop – but live, connect, rest and play.

“Honouring our ongoing commitment to sustainability, the proposal includes net zero carbon emissions for residential common areas and back-of-house services, and incorporates the site’s rich history, including restoring the heritage pub – The Loyal Studley Hotel, built in 1891.”

With a total construction cost of $900 million, the expansion and redevelopment of Victoria Gardens is projected to create 680 jobs each year during construction and support more than 3,300 ongoing jobs across the precinct upon completion.

Vicinity and Salta are seeking the necessary planning approvals for the proposed redevelopment through the Victorian Government’s Development Facilitation Program, committing to our client and community engagement throughout the process, while working closely with the Department of Transport and Planning and City of Yarra to begin the evolution of Victoria Gardens.