The house on the hill at Bundoora, formerly known as the Larundel mental asylum, has made way for a new era in Melbourne’s inner north.
The area has been rebranded “the capital city of universities”, with La Trobe University flanked by RMIT’s campus west and east.
It even has its own postcode.
Polaris 3083 is a major development on the site of the former Larundel hospital, providing a new town centre and more than 1100 dwellings next to La Trobe University and Bundoora Park.
Planning Minister Matthew Guy last week formally opened a new $500 million residential and retail hub in Bundoora, one of three major projects in the housing hot spot.
It is stage one of the Polaris project.
This stage includes a shopping centre and 64 apartments, while construction is progressing on another 140 townhouses and apartments that are due to open next year.
“Almost 11 hectares of land is being transformed in a way that really adds to the local community, with a new shopping centre already supporting nearby residents,” Mr Guy said. “The development will provide much-needed housing variety, especially for the growing student population with La Trobe University and RMIT nearby.
“It will also provide further employment opportunities in retail, education and business in what is an emerging employment cluster to Melbourne’s north.
Mr Guy said Polaris 3083 was part of the La Trobe Employment Cluster, one of six major job hubs outlined in Plan Melbourne.
“The northern region of Melbourne is likely to grow by 400,000 to 470,000 people by 2031, which means around 140,000 dwellings will be needed in areas just like this Polaris site.”
Mr Guy said developer DealCorp had recently received approval for a $300 million village precinct plan for the area, including expanded retail presence, townhouses and apartments.
Mr Guy said this stage would involve the restoration of heritage buildings and brought with it the possibility of purpose-built student housing and an aged-care facility.
