Cbus Property and PDG Corporation have been asked to submit final offers by April for the mixed-use development set to include residential apartments with affordable housing, retail, community facilities and customer car parking.
Cbus is one of Australia's largest public offer Industry Superannuation funds. Established in 1984 for the construction, building and allied industries; it now has over 720,000 members. Cbus has over 89,000 participating employers and manages $27 billion of members' funds. Cbus invests back into the building and construction industry through its $2.8 billion property development company Cbus Property. The Chairman of Cbus is ex Victorian Premier, Steve Bracks.
PDG Corporation is a privately owned company established by Vince Giuliano as a boutique designer-builder company in the mid 1980’s. It has grown to specialise in high rise residential and commercial developments and has recently completed the construction of over 1,200 luxury apartments in inner-Melbourne with a further 300 currently under construction
An evaluation panel comprising representatives from the City of Melbourne and Queen Victoria Market Pty Ltd management will evaluate the best and final offers. This panel has access to advice from subject matter experts in probity, design, planning, finance, law, sustainability and governance, as well as several other fields.
The City of Melbourne expects to execute a Development Agreement with the successful bidder in mid-2016.
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