LATEST INVESTMENTS

With the $63 million upgrade for the Frankston Station Precinct now complete it’s time to leverage this investment and encourage new commercial and retail uses which activate the precinct and the adjacent city centre precinct.

Frankston Hospital will soon undergo a $562 million makeover. The much-needed expansion is set to transform the region’s medical services and include an 11-story tower, an extra 120 beds and specialty services. Planned for completion early 2024, the public-private partnership plan, will also include two new operating theatres and 13 new emergency department beds, new oncology services and dedicated space for specialised mental health services.

Approved and prioritised by the State Planning Minister, Vicinity Centre’s Bayside Centre will create an eight-storey office development at 12 Balmoral Walk in Frankston. The $240 million Balmoral Development includes 14,037 square metres of office floor space with 1772 square metres of retail floor space at ground level with frontages to Keys St, Shannon St Mall and Balmoral Walk.

A nine storey development at 1-2 Plowman Place will provide a major boost to the City Centre, and assist with the recovery from the COVID-19 crisis. The development will provide 79 apartments, 800 jobs to the area and is the latest project from developer Urban DC. As the horizon can be seen from every level of the building, it will be marketed as Horizon Apartments. Construction planned for 2021.

Just a short drive from Frankston CBD, a $62 million investment by ISPT Super Property, who also own Westfield Doncaster Shopping Centre and Barkly Square, Brunswick, is well underway at Karingal Shopping Centre. A huge boost for the region, the redevelopment of the centre will see more space for retail outlets and restaurants plus existing shops at the centre will get a facelift. The project has created about 200 jobs during construction and 300 full ongoing and part time jobs are expected. The plans include an additional 762 car parking space. Expected completion late 2021.

The campus has embarked on a $75.9 million redevelopment that will make it one of the most advanced and innovative training and skills institutes in the region. The development includes new state-of-the-art facilities for Health, Community Care, Early Childhood Education and Hair and Beauty and redeveloped trades facilities and a new Centre for Advanced Manufacturing, including an industry-driven and purpose-built, flexible, integrated Design Centre.