Government Opens Land for $480M Development

MELBOURNE-Southern California-based Reading International last week saw its development options here expand exponentially when the Victorian State Government formally recognized Melbourne’s Burwood Heights as a “major activity center.”

The Burwood Heights District is where Reading owns one of the largest unimproved development sites under a single ownership in suburban Melbourne. The action by the Victorian government opens the door to a much broader range of development activities than would otherwise have been available to Los Angeles-based Reading.

Reading says approximately 430,000 people live within five miles of its site, and approximately 70,000 people per day pass by the site on either the Burwood Highway or Middleborough Road. The site is also located adjacent to the metropolitan light rail system that links to the Melbourne CBD, says Reading.