Unlocking Melbourne’s CBD: Victorian Minister for Planning publicly commits to review Amendment C270

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Since introduction of the control, just three developments had been approved in Melbourne's CBD.

Victorian Planning Minister Richard Wynne has flagged easing central Melbourne planning restrictions that developers say could cost the state economy up to $7 billion in lost jobs by 2036.

Mr Wynne said in an interview he would meet Property Council of Australia officials next month to discuss the two-year-old planning amendment that the lobby group says constrains development in the country’s fastest-growing city.

Research done by consultancy Urbis for the Property Council late last year says a shortage of office space triggered by planning rules under the so-called Amendment C270 that Mr Wynne brought in in November 2016 could hold back a growing city that would need another 4.4 million square metres of office space, as well as more residential space.

Since introduction of the control, just three developments had been approved in Melbourne’s CBD, the council said in August.

To continue reading the full article, originally published by the Australian Financial Review, click here (pay wall).

To find out more about the report, take a look at the Property Council of Australia’s media release: New report a stark warning for jobs in Melbourne CBD’s future

You can also view the full report here.