Australia's largest privately-owned construction company, Grocon, has finally received the green light from Victorian Planning Minister Richard Wynne for its $300 million residential tower on Spring St in Melbourne. Wynne blocked the tower in April on the grounds that it was too tall and too close to the historic buildings on Collins St. 

Grocon appealed that decision and last week struck a compromise to build a smaller tower than its initial 44-level, 305 apartment proposal. The revised tower will have 225 apartments over 39 levels. 

"By keeping height limits in check, we can enhance the inner suburbs and draw in new residents without overshadowing or spoiling the streetscape," said Wynne. 

Melbourne Lord Mayor Robert Doyle said it was a good example of working with developers in the interests of the city. "We need to build more apartments across the city but they have to be consonant with the fact that we're the world's most liveable city, and [with] our vision for our future," said Doyle.