Recognised as the gateway to the eastern suburbs, Box Hill has come a long way from its initial suburban identity. With a number of major urban redevelopment projects underway and many more set to define its skyline, Box Hill has become the fastest growing city centre outside of the Melbourne CBD and is now offering a genuine alternative to the Melbourne CBD for investment, employment, entertainment and a place to stay.
It is somewhat the perfect storm that has been created that makes Box Hill an attractive proposition for a range of key industry players. The town centre is well served in terms of infrastructure. Box hill benefits from a well-located and established activity centre and shopping centre (Box Hill Central) with a diverse range of retail, commercial, food and beverage and entertainment offerings.
The town centre is a major public transport hub, well supported by rail, tram and bus routes with both the Belgrave and Lilydale railway lines converging deep below the shopping centre, with a major tram route located along Whitehorse Road and a regional bus interchange located above the shopping centre.
In terms of employment generation Box Hill also boasts the highest office floor area outside the Melbourne CBD and has been a long time home for some major health (Box Hill Hospital and Epworth Hospital) and education facilities (Box Hill Institute and Box Hill TAFE).
Unlocking the potential in Box Hill has been the strategic work that has been carried out by Whitehorse City Council with support given to this vision by State Government for decentralisation. The Box Hill Transit City Activity Centre Structure Plan was introduced in 2006. The structure plan provides a framework for city development and identifies areas for growth with an emphasis on contribution to employment generation, housing supply and the 24 hour city.
Of note is Precinct F where there are no height limits and higher rise development is encouraged. This area otherwise known as the development ‘’go zone’’ in Box Hill.
Momentum has been gathering since the adoption of the structure plan though it is only been over the last few years that the development industry has sat up, taken notice and tapped into Box Hill’s true potential.
Investment in Box Hill has skyrocketed in the last few years with much of this coming from Asian investors, and more specifically from China. It is worth noting that a significant proportion of the Box Hill population comes from Chinese descent and Box Hill host one of the biggest Chinese New Year’s parties in the country
To read more please see the full article at Urban Melbourne.