The Victorian state government has just granted planning approval to a $200million 25 storey twin-tower project within the formerly industrial Joseph Road Precinct in Footscray, the largest and most significant urban renewal site in Melbourne’s inner west. Located five kilometers from the CBD, the 15 hectare site was rezoned by the State Government as a Priority Development Zone in 2008. 

Melbourne developer Gurner will build the towers with architects Elenberg Fraser in an area that will become Footscray’s new residential and retail hub, 1 Warde Street.  When complete, it will comprise two twenty five storey buildings, featuring 350-380 apartments with 4000sqm of retail at ground level. Gurner founder Tim Gurner acquired the site four years ago, and hopes to bring this project to market in early 2016.

Gurner addressed talk that the precinct was at risk of becoming overpopulated by apartments in a statement, stating, "There has been talk that this precinct may become over populated with new developments however we see it no differently to opening an Italian restaurant or cafe on Lygon Street - as long as you ensure you are delivering the best possible coffee or product in the market at a competitive price, it is sure to be a success."

Footscray's population is growing by approximately three percent annually.