What Does The QVM Re-development Announcement Mean?

Actually the announcement on Channel 7 News on Thursday night was not so much a re-development announcement but more a funding announcement.

Melbourne City Council wants to re-develop the Queen Victoria Market but needs $100 million to do it. That amount of money doesn’t come out of thin air, particularly when our State Government is cash-strapped. So a plan was devised to take a bit of Queen Victoria Market, a bit of Franklin St. and some street car parks and sell them for development. In this case, two 50 storey skyscrapers. The funds from the sale of this land would finance the QVM re-development.

The plan is before State Government for approval. This funding is just the start of the process. Traders will be particularly interested in the detail surrounding how the money will be spent if and when funding comes through. How will the market be re-developed and how will that influence traders? These are the questions that will have a big impact on the future of the market and the livelihood of its major stakeholders.

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COMMENTS:

22/04/2013 11:50:34 $100,000,000?? " Sadly to say,this money has been spent already!!
We the traders will not see a RED CENT spent on our beloved market!!
Firstly,they have to improve on a carpark facility for the customers to use.
Secondly they have provide a carpark for the customers to use.
Thirdly do they want to improve the carparking for the customer base that we have?
Yes, Mayor Doyle will get his apartment blocks built and be given one as his mayoral right to have housing available for him to use while it will be his legal city address,then passed on to the next mayor of our beautiful city,yet again we are being .......!!" Rosalie Rockman