Property developer Golden Age Group has $450 million plans for a new Chinatown in Melbourne's eastern suburbs as part of its mixed-use Sky Village development in Box Hill.

The new Chinatown is the second for Melbourne. While the Sky Village project, designed by Fender Katsalidis, will be the developer’s third Box Hill project.

Golden Age, led by Jeff Xu, said the project was spurred on by the local Box Hill area, with more than 30 per cent of the suburb’s inhabitants born in China or Hong Kong.

“Box Hill shares many of the cultural and historical ties to Melbourne’s long-standing Chinatown in the CBD,” Xu told The Urban Developer.

“New Chinatown has been envisaged to celebrate and expand upon these ties visually, culturally and gastronomically.

“New Chinatown and its accompanying residential development would be one of the largest and most significant investments into Box Hill in its long history, with major economic, social and cultural benefits for the local area,” Xu said.

“Each Chinatown has its own unique story to tell and New Chinatown will be no different.”