Construction contractor Multiplex has been awarded a contract by OSK Property to deliver Stage One of its AUD2.8bn ($2.19bn) Melbourne Square mixed-use development.

The AUD490m ($383.4m) Stage One of Melbourne Square features residential towers situated above an eight-level retail podium which will also include a supermarket, specialty stores and cafes.

Under Stage One, a total of 1,043 residential apartments will be built in two towers including 54-floor and 69-floor skyscrapers, respectively.

Designed by Cox Architects, the residential towers of Stage One share a terraced podium and offers more than 3,700 sq m of public realm including landscaped parklands and a retail precinct at the base of the towers.

Touted to be one of the largest mixed-use precincts in central Melbourne, the Melbourne Square will be located in the heart of Southbank and bound by Power, Kavanagh and Balston Streets.

The entire mixed-use project will include six towers ranging from 38 to 73 floors. Four residential towers will provide more than 2,610 apartments, as well as a 621-room hotel and a 52,000 sq m commercial tower.

Other facilities available include a retail centre, food and beverage precinct, a child care centre and extensive public parklands with cascading water features and piazzas that will be the largest in Southbank.

Multiplex Victoria regional managing director Graham Cottam said: “We are delighted to play a pivotal role in this exciting project which will see a city block revitalised to become a vibrant vertical village.

“Melbourne Square will further activate Southbank and deliver much-needed green open space and amenities to the precinct.

Construction of Stage One of Melbourne Square has started which is expected to be completed in August, 2020.