A $50 MILLION luxury hotel is coming to the vibrant multicultural hub of Springvale in the heart of Melbourne’s southeast. Barnes Capital revealed their plans to build an eight-storey Hyatt Place hotel on the corner of Springvale, Dandenong and Centre roads.
The development will create 280 construction jobs, 226 ongoing jobs and is expected to be finished by August 2020. The project is aiming to bring a level of style to the precinct by creating co-working facilities, conference rooms and retail stores.
Greater Dandenong Mayor Youhorn Chea said the development was a demonstration of the confidence high-end operators and investors have in the strength of the local area and economy, “which attracts shoppers and visitors to its sensational regional cuisine and Asian offerings.”
Chairman Martyn Barnes said the site was chosen because it was one of the busiest intersections in Melbourne. “It’s the gateway to Melbourne’s second largest employment cluster outside Melbourne CBD, with easy access to both Monash University and Monash Hospital,” he said. Mr Barnes said it amounted to a $113 million investment — a $50 million initial investment and $63 million of induced economic output into the wider economy.
The tier one hotel will be built in the Monash Employment and Innovation Cluster. The areas of Huntingdale, Clayton, Mulgrave, Notting Hill and Springvale are home to a number of academic institutions, businesses and medical facilities, supporting about 75,000 jobs and contributing $9.4 billion to the Victorian economy.
Spokesman for Victorian Tourism Minister John Eren said more visitors were travelling to Victoria than ever before and the Hyatt Place hotel in Springvale would help cater for that growth. “The more visitors we lure, the more jobs we create and businesses we support,” he said.
Hyatt Hotels Corporation Asia Pacific Group President David Udell said Springvale would be the brand’s tenth foray into Australia. The stylish new hotel will compliment Dandenong Council’s ongoing transformation of downtown Springvale.
Renovations to revamp the old town hall into a functional facility were completed last year, while construction has begun on the Springvale Community Hub, which includes a new library, more parking, outdoor green spaces and leisure and cultural spaces.
Work started last November on 20-level Spectra Building on Thomas St, Dandenong. It will be Dandenong CBD’s tallest building and will house a four-and-a-half star hotel, 56 high-end apartments and retail shops.