The future of more than $4.5 billion worth of high-rise apartment projects at Fishermans Bend has been cast into doubt after the state government froze the development of towers at the controversial precinct.

Planning Minister Richard Wynne is notifying the developers of 26 major projects that their permit applications are being “called in” and put on hold until new planning controls are established later this year.

The Age understands that the government is facing a potential legal backlash from the developers, who are taking advice on mounting a collective court challenge to the multibillion-dollar decision.

The freeze affects the future of nearly 14,000 proposed dwellings, retail, hospitality and office spaces, as well as a childcare centre and school in a development site the size of the CBD.