Docklands is a planned waterfront city adjacent to Melbourne’s central business district, incorporating commercial, residential, retail and lifestyle components. Totaling 220 hectares, it is bigger than the city’s CBD and fives times the size of Sydney’s Darling Harbour.
This area was opened for development applications in 1997, attracting several of the country’s largest developers and consortiums. Riverlee’s partners were involved in the formation of Yarracity, a consortium shortlisted for four out of the five precincts on offer.
Yarracity, in a joint venture with MAB Corporation, formed a partnership, Yarranova that was successfully awarded the 14-hectare Business Park Precinct in 1999 with plans for a $650 million residential, commercial and retail city.
Yarracity subsequently sold its 50 per cent interest to MAB in 1998 who continued the project, developing the area now known as New Quay.
Yarracity retained a development site which is now completed and known as 370 Docklands Drive.