$1Bn Housing Project in SE Melbourne
Mirvac has confirmed it will develop the 171 hectare Boral quarry site in Wantirna South. Expected to take up to 10 years to develop, the project could potentially be valued at $1Bn subject to final approvals and re-zoning. The site runs along the Eastlink Freeway south of High Street Road and surrounded by golf courses and parklands. Under the proposal, Boral would retain ownership of the site in exchange for a $300m payment over the life of the project.
The project would dwarf the other current metropolitan residential development site at the former Amcor site at Alphington.