Twin towers to be built next to Marvel Stadium

A block of land intended to add green space for the Marvel Stadium redevelopment will instead see the construction of two 100 metre towers.

The prime land on La Trobe Street is currently vacant and was offloaded by the AFL to a developer for an estimated $60 million in June when the league faced financial difficulties due to the temporary shutdown of the season caused by Covid-19.

The land faces gate seven at the northern end of the AFL-owned stadium and is considered a key part of Docklands redevelopment plans.

The $230 million twin high rise residential towers would be up to 100 metres in height and feature 676 “built-to-rent” apartments. Also included would be a large multi-function space potentially to be used by the AFL.

A BBQ pavilion, 25m pool, yoga and sun deck, games room and outdoor terrace would be built in a three-level podium.

The podium would also house shops, cafes, a pet centre, treatment rooms, cinema and the multi-function rooms opening up to Marvel Stadium.

In its pitch to the Victorian Government, land owner GFM Investment Management Limited said the development would “improve Docklands as a destination.”

Marvel Stadium once stood alone when it opened in 2000, but is now surrounded by six towers, blocking the view of the 55,000-capacity venue from various vantage points.

Docklands itself is often considered to be over-developed, with minimal open space and an over-supply of residential and commercial towers.

An AFL source told the Herald Sun the league leveraged an “option” with the developer but had not yet signed as a tenant.

AFL chief executive Gillon McLachlan penned a letter of support for the developer’s plan and oversaw the onselling of the land.

The application, to be decided by Planning Minister Richard Wynne, said “the AFL’’ was a “key” part of the project.

“The partnership has resulted in early stages of design consultation to provide the best outcome for the site, particularly at ground floor and the lower levels,’’ it said.

“In delivering this project in partnership with the AFL, a new multi-function space was a key

Detailed plans for the $225 million redevelopment of Marvel Stadium were revealed in November, with work set to commence this year.