Named The Foundry after the historic use of 612-614 Smith Street as a foundry, the 37,000sqm mixed-use development will support the revitalisation of the Clifton Hill area. The site will be redeveloped as a commercial and retail space and construction will  commence in Q4, 2021.

Construction is expected to be completed in Q1 2024, and will house commercial and retail space, including a casual dining precinct across three levels. The development will comprise three portions, each made up of four, nine and 12 levels respectively. 

“The Foundry Clifton Hill is a prominent city-fringe site, and the largest being developed by Pallas Group in Melbourne. The $120m new build has the potential to create a thriving landmark that will elevate the area as a whole. With an expected end value of $300m, it will be transformed into a unique community hub generating connective experiences for Clifton Hill and greater Melbourne itself,” says Charles Mellick, Director, Pallas Group.

Designed by Bates Smart, The Foundry will feature five different facade types that break up the commercial, retail and market hall into unique buildings.

With two towers offering a combined commercial space of 23,000sqm, including a state-of-the-art fitness and wellness centre, the development will also feature a 7,000sqm food and beverage offering and fresh food markets, and three levels of basement parking.

Located 3.5km northeast of Melbourne CBD, The Foundry is located directly opposite Development Victoria’s Fitzroy Gasworks site which has a masterplan for 1,100 apartments as well as childcare centres, schools and sports fields. 

Article originally appeared on Architecture & Design.