Melbourne property developer, Capital Alliance, has secured approval for the planning permit for an A$340 million (US$234 million) dual hotel project in the Australian city, and construction is now set to commence in 1H2024.
The project, run in partnership with Australia’s International Hotel Group, TFE Hotels, is a mixed-use lifestyle development in Melbourne’s Docklands precinct. It will house a conference centre for up to 1,000 people, a 200-room hotel carrying the Collection by TFE Hotels brand, a 105-room A by Adina hotel, and Australia’s largest rooftop infinity pool.
Mohan Du, founder and chief executive, Capital Alliance, said: “Pearl River is our last blank canvas for Docklands and as such represents a significant milestone, so we wanted to create something truly remarkable and, in collaboration with TFE Hotels, a precinct that fosters a work, rest, play lifestyle.
“Importantly, this project also prioritises sustainability, world-class lifestyle amenities and provides a premium setting for large scale Melbourne events.”
Melbourne lord mayor, Sally Capp, shared that “the precinct’s popularity continues to grow” and that the Docklands has much to offer with its modern commercial and residential developments, shopping and dining options, and accessibility to the city.
In addition, the project will showcase the longest escalator in Australia, transporting visitors on an immersive ride using the latest in visual projection technology.
“Just like the Pompidou Centre in Paris, this enormous escalator runs up the side of the building and leads to a fabulous bar and function centre – and just like at the Pompidou, I am sure this new escalator will be renowned as one of the best rides in Melbourne,” said deputy lord mayor Nicholas Reece.