Geon Property has relodged the scaled back plans for Stage One of the $750-million Albion Exchange project.
The fifteen-year Albion Train Station precinct project will redevelop the state-owned 4-hectare property bordered by Mawarra St, and Albion and Hudson Roads in ten stages and will include an upgrade to transport facilities and access to the Albion train station.
Stage One will feature two new multi-level residential buildings with new food and beverage, health and wellbeing, and retail and commercial precinct. A separate application for stages two to 10 has also been lodged before the Council.
The updated plans for Stage One of the development has been relodged, which scales down the original 30-storeys and 23-storeys with 333 units to 20-storeys and 19-storeys with 253 units. Building footprints for each tower have been reduced by up to 10 percent.
Along with the residential towers, a $28.7-million upgrade to transport facilities and access to the Albion Train Station have been added. A new green open space and a public plaza connecting the east and west of Albion Road, which has been reduced to 3,294sqm from the original proposal of 4,900sqm, are also included in the Stage One Albion Exchange Master Plan.
The updated plans came as a result of extensive consultation with the Council and continued discussions with local residents and businesses.
Commencement timeline has been moved to mid-2020 to allow more time for detailed design and a pre-sale process.
