La Trobe University and the government of the Australian state of Victoria have agreed to jointly fund a A$2m ($1.4m) scoping and feasibility study to accelerate investment to fast-track delivery of its A$5bn ($3.5bn) University City of the Future on its Melbourne campus at Bundoora.
Minister for Industry and Employment Ben Carroll launched the University City of the Future plan, which is aimed at making the campus the engine room for jobs and economic development in northern Melbourne.
The partnership is expected to transform the 235-hectare campus into a multi-precinct, City of the Future, bring A$5bn ($3.5bn) in investment, create more than 20,000 new jobs and deliver A$3.5bn ($2.5bn) in Gross Regional Product (GRP) over the next 10 years.
The scoping and feasibility study will help prioritise government and La Trobe activity to attract private investment into seven distinct development sub-precincts.
The seven sub-precincts include: a research and innovation precinct for agriculture, food and fibre, health and well-being and digital technologies and cybersecurity; an expanded private hospital as the first stage of a major new Health and Wellbeing Hub; education facilities for more than 40,000 university students; and new residential accommodation for 12,000 residents, including staff and students.
The sub-precincts also include a new city centre with a mix of commercial, retail and cultural facilities; the third stage of La Trobe’s A$150m ($106m) Sports Park; and improving access the university’s eco-corridor for all to enjoy.
The partnership will also build a new La Trobe station at the university’s Bundoora campus.
La Trobe also announced three key developments in the realisation of the University City of the Future plans. It has selected Healthscope as the preferred private hospital operator for the university’s Health and Wellbeing Hub at the Bundoora campus.
The hub will include a new private hospital, aged care, childcare and super clinic facilities.
La Trobe and RMIT Universities have decided to establish a Joint Institute for the Future of Food, a food industry innovation hub in Melbourne’s northern suburbs.
The Victorian Planning Minister Richard Wynne has signed a planning amendment for the Health and Wellbeing Hub and the Research and Innovation Precinct.
Image: Artist’s impression of University City of the Future. Photo: Courtesy of La Trobe University.