HONG Kong based developer Far East Consortium is ready to redevelop one of the Melbourne CBD’s biggest remaining development sites.

Planning Minister Justin Madden this week approved the construction of a $1 billion-plus, multi-skyscraper compound, to replace the notorious eyesore known between 1950 and 2008 as the Lonsdale Street power station, at the Docklands-CBD suburb border, opposite the Southern Cross train station.

The Upper West Side complex, as it has been marketed, will include four major skyscrapers between 31 and 50 levels – linked by a one hectare podium rooftop garden – with a veggie patch and children’s play area. Retail will flank the ground levels.

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