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Prospect Street shapes as Box Hill's next go-to development strip

High-rise development sites number four and five have come under the microscope along Box Hill's Prospect Street, further pushing its credentials as the suburb's next major apartment strip.

Running parallel to Whitehorse Road, Prospect Street is "in an area inviting substantially increased intensity of use and activities consistent with an increased urbanisation." Latest into the limelight is 34-36 Prospect Street which is a major residential tower on behalf of ZL Prospect Pty Ltd.

Designed by Toauk Architects, the proposed development is currently at advertising with City of Whitehorse. Expected is a 31 level tower reaching 95 metres that includes 196 apartments, 2 retail tenancies, 1,152sqm of commercial space and 5 basement levels for 184 vehicles.

34-36 Prospect Street's provisional apartment mix sees 46 single bedroom, 138 dual and 12 triple bedroom dwellings within a tower that is dominated by a black and gold exterior.

34-36 Prospect Street. Image: Taouk Architects

Taouk Architects describe the project as follows:

34-36 Prospect Street presents an urban design response to a location that is both capable of supporting, and is targeted for an intensive development in accordance with both the Box Hill Transit City Structure Plan and the City of Whitehorse Planning Scheme.

A mixed use development is consistent with the requirements of the Planning Scheme, and will contribute to Prospect Street as a safe and activated pedestrian corridor through the Box Hill Activity Centre.

34-36 Prospect Street's offering follows on from last week's announcement by Savills that 15-17 Prospect Street had successfully sold to Chinese-based interests for $12.91 million. Billed as capable of handling 20 plus levels of residential living, the 1,305sqm site sold for a rate of $9,340 per sqm.

As with the majority of Prospect Street, the current low-rise commercial building is expected to make way for a mixed-use scheme. Backing onto rail lines, 15-17 Prospect Street is by no means alone on the southern side of Prospect Street.

15-17 Prospect Street. Image: Savills

9-11 Prospect Street has approval in place for 187 apartments across a 26 storey, Artisan Architects-designed tower. It too will include commercial use across its lower floors, with 2,915sqm of leasable space within the podium.

At the time that 9-11 Prospect Street was at planning, a 1,004sqm site at 13 Prospect Street and a 1,653.7sqm site at 31-35 Prospect Street were offered for sale jointly between Colliers and JLL. Both sites are utilised as at grade car parks, with neither yet to reach planning.

With the five identified development sites set aside, Prospect Street still has a substantial supply of low-rise sites capable of eventually accommodating mixed-use towers.

In theory as many as 10-12 additional future towers could possibly rise on Prospect Street, assuming all sites are developed to their full capacity, allowing Prospect Street to become one of Box Hill most intensely developed precincts.

2 comments

3000's picture

Whoever owns those houses over the other side of the tracks won't be seeing much sunlight.
I suppose in time they will be developed as well.

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Alastair Taylor's picture

Across the road from 34-36 Prospect Street, 31-35 Prospect Street sold for $13.5mil recently: http://www.savills.com.au/_news/newsitem.aspx?intSitePageId=109969&intNe...

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