If you grew up southside, you likely spent some time as a mall rat at the Jam Factory. But South Yarra’s retail and cinema complex has been struggling in recent years. Topshop was the most recent departure, closing its flagship store this year after failing to flourish since opening in 2011.
To revitalise the once-vibrant site, owner Newmark Capital has proposed a massive 15-storey, $450 million redevelopment.
If the project goes ahead the existing structure will be gutted. The proposal also includes a mixture of office, retail and entertainment spaces, and a garden terrace. The Village Roadshow cinema will also return, albeit with a state of the art facelift.
Restaurants and shops will feature on lower levels, filling pedestrian laneways connected to a central plaza that will wrap around the historic factory chimney.
The basement will have 1300 car parking spaces, as well as supermarkets and fresh food offerings.
Up to 5000 workers will be housed across 50,000 square metres of office space in seven different buildings.
The approximately two-hectare site means Chapel Street will remain unaffected during construction, with all works contained on site.
The proposal is currently with Stonnington Council, and if approved, the project will be finished by 2020.
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