Geelong CBD Mixed-Use Tower Approved on Gheringhap Street

Geelong's central business district has cleared a significant planning hurdle with the approval of a major mixed-use development on Gheringhap Street, signalling renewed momentum in the city's decade-long renewal effort.

The 22-storey tower, comprising 285 apartments, ground-floor retail and dining spaces, and a basement carpark, represents one of the largest single approvals in the CBD since the council's urban renewal strategy began in earnest a decade ago. The project will sit within easy walking distance of Geelong Railway Station and the Geelong Library precinct, two anchors of the city's contemporary identity.

The approval comes as broader market forces reshape the region's property landscape. Victoria's median house price hovers around $680,000, and while inner-Geelong remains markedly more affordable than Melbourne's established suburbs, investor and owner-occupier interest in the CBD has noticeably picked up over the past 18 months. Local agents report that city-centre apartments priced between $450,000 and $650,000 are moving faster than they did five years ago, reflecting both migration from Melbourne and lifestyle buyers seeking waterfront proximity without the Surf Coast premium.

The Gheringhap Street approval signals confidence among developers despite the Reserve Bank's cautious messaging on interest rates. The project includes design features aligned with recent planning shifts toward limiting short-stay accommodation in CBD apartments—a response to concerns about permanent housing stock erosion that have troubled councils across Victoria's growth corridors.

Council planning officers noted the development meets updated heritage and urban design guidelines, which require new towers to respond to Geelong's Victorian streetscapes rather than simply replicate Melbourne templates. The ground-floor activation—particularly critical in a city still rebuilding its evening economy—includes retail tenancies and hospitality space, addressing long-standing complaints about dead street frontages.

The approval arrives as Armstrong Creek, the massive outer-growth corridor south of the city, continues its rapid expansion. While Armstrong Creek captures younger families seeking new housing stock, inner-Geelong developments like this one appeal to empty-nesters, professionals, and investors seeking established neighbourhood amenities within walking distance of the CBD's emerging café and entertainment precincts.

Construction is expected to commence in early 2027, with completion targeted for 2029. The developer has indicated pre-sales will open in late 2026, which may test investor appetite in a market where first-home buyers remain cautious but upgrade cycles continue.

For a city that spent the 2010s watching its CBD hollow out, each major approval represents tentative evidence that Geelong's long-promised transformation may finally be gaining traction.

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