What is Banco’s proposed development?

The planning application is for a permit to carry out demolition of all buildings on Smith Street (numbers 132 – 172 extending almost from the Grace Darling Hotel to the Old Post Office) and works for a mixed use development comprising:

• 253 dwellings (comprising 3 towers, including student housing of 100 apartments)
• retail premises (including supermarket, to operate 24 hours a day)
• offices
• restaurant/café, gallery
• multi level basement car park (capacity 400, servicing proposed uses)
• loading bays accessed from Little Oxford Street
• built form of 8-9 levels – rising from a podium to the equivalent of 11 storeys
• reduction in standard car parking requirements of the planning scheme.

The applicant is Malvernway P/L and Davgab P/L – for the Banco Group, developers of the controversial Lygon Court in Carlton. This proposed development would dwarf the historic Foy and Gibson complex, the tallest buildings in the area.

Refer to excerpts from the the Planning Application PL03/1407.