A consortium led by Australian superannuation fund Hostplus and developer Hamton has been selected to deliver a A$7bn (€4.4bn) master-planned community precinct in suburban Melbourne.
The consortium has partnered with Live Nation, Melbourne Victory Football Club and the University of Melbourne to deliver the Arden Central project’s sports, cultural and academic infrastructure.
The Victorian state government awarded the 5.5ha site for the development, which will feature more than 5,400 homes delivered in stages over the next two decades alongside sporting and social infrastructure for an estimated 10,000 residents.
The mandate marks the second major urban mixed-use project for the joint venture, following its partner status on the A$3.5bn Moonee Valley Racecourse redevelopment in Melbourne.
David Elia, Hostplus CEO, said: “This project highlights the powerful role institutional capital can play in unlocking major developments that have the potential to generate strong member outcomes while also contributing to thriving communities and economic growth.”
Sam Sicilia, Hostplus CIO, said: “This investment builds on our track record of investing in high-quality assets that generate long-term value, while helping to create vibrant places where people want to live, work and connect.”
Paul Hameister, founder and executive chairman of Hamton, said a consortium of international organisations, creative teams, and cultural partners spent two years developing a comprehensive master plan designed to transform urban living in Melbourne.
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