The development of a 21-story mixed-use skyscraper in Melbourne's Queen Victoria Market sector has been approved by Golden Age Group.

Bates Smart designed the new building, which is located at 432-450 Queen Street. The skyscraper has a variety of environmentally friendly and well designed homes, as well as two levels of shops, a roof terrace on Level 5, and residential amenities. Bates Smart sought to repair the Queen Victoria building and incorporate it into the new construction, which will honor and respect the site's heritage.

"We've taken great care in building an enduring and well-crafted addition to this area, respecting the site's historical context but also keeping in mind that this construction will help shape the future character of a developing and varied urban fabric," he adds.

To compliment the historic Queen Victoria structure, carefully selected masonry will be used to podium forms, while the retail ground plane will include vitrine windows as a contemporary translation of the traditional shopfronts prevalent throughout the market district.

Munro Square will be complemented by a triple-height atrium facing north, which will provide natural light and activity to the lower and upper ground retail tenants.

The approved announcement, according to Golden Age Founder and Managing Director Jeff Xu, is a terrific start for the company in 2022.

"The State Government's faith in us as co-developers of this city is reflected in our receiving approval. We're eager to produce a project that will contribute to this ever-evolving nook of the city." The project is located in a significant portion of the Queen Victoria Market district, and we're pleased to build a project that will contribute to this ever-evolving pocket of the city."

Around 10% of the units will be made accessible as affordable housing to ensure an equal distribution of housing. For additional information about the project, go here.