A development consortium is hoping that a Clifton Hill site which recently went into planning will ultimately become the suburb's first high-rise building.

Plans for 249-261 Queens Parade were lodged with City of Yarra during May for a 17 storey tower of a consisting predominantly of apartments. The small stretch of Queens Parade abutting Hoddle Street has seen a limited number of mid-rise projects thus far, but nothing of the scale which has been designed for 249-261 Queens Parade.

With a development cost of approximately $30 million, 129 dwellings are designed to sit above ground level retail, with two basement levels also included.

Development Manager Wulff Projects carry the following description of the project on their website:

Neighbouring the Patch Apartments, these adjoining sites were acquired separately and off-market by Wulff Projects on behalf of the Joint Venture comprising Wolf Capital and Salta Properties. Currently, over 100 apartments are planned, striving to be an exemplar of high quality design and all with high level amenity and priority ESD consideration. This development is expected for completion in 2018.

The two sites in question are 265 Queens Parade at 310sqm and 249-261 Queens Parade covering 885sqm. According to Colliers the combined purchase price for the land parcels was $8.5 million.

Colliers International graphic for Queens Parade

Formerly light industrial, the eastern side of Queens Parade is gradually being repurposed as higher density development.

The green plot seen in the Colliers International graphic above relates to Salta Properties and Wolf Capital's planned 17 level tower whilst the mustard site holds approval for an 11 level project at 243-247 Queens Parade. Dubbed Patch Apartments, a project website for the development is still operational.

Seen in orange above is aged care provider TLC's site for a 10 level integrated care hub at 217-241 Queens Parade. With revised plans submitted during January, Yarra City Council have the application listed as having a Notice of Decision; the final step prior to a planning permit being granted.

205-211 Queens Parade also shapes a future development with Colliers International recently running a campaign for the 1,440sqm land holding.