Casin
A LUXURY new five-star hotel and apartment complex have been announced under vast plans for Crown Casin to expand its empire on the shores of the Yarra.
The new complex will be set on four parcels of land on Queensbridge St, opposite Crown’s existing site, and is expected to create thousands of industry jobs.
Crown Casin says the new site is not intended as a gaming venue.
In a statement, Crown Resorts chairman James Packer said the project demonstrated the company’s confidence in Melbourne as a “world class tourism destination’’.
“This project will create hundreds of additional hospitality and tourism jobs and training opportunities,” Mr Packer said.
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“While Crown continues its domestic and global expansion, Crown Casin Melbourne remains our flagship resort and this project will ensure it remains the best integrated resort in Australia and among the best in the world.
He said occupancy levels at Crown Melbourne’s three hotels were consistently over 90 per cent and demonstrated an urgent need for more hotel capacity.
“A new luxury Crown managed hotel will assist Melbourne to attract more high net worth tourists and reinforce Melbourne’s appeal as a destination for important international conferences, sporting and cultural events,” Mr Packer said.
The construction phase of the project is expected to create full time employment for an estimated 1000 people on site with close to 1000 more indirect jobs working off-site supplying materials and services to the project.
The land is controlled by the Schiavello Group, and Crown Casin has agreed to an initial investment of $50 million to participate in the joint development of the project with Schiavello.
Designs for the project are yet to be revealed and Crown Casin management said the hotel was not expected to include any gaming operations.
The final development remains subject to negotiation of a final joint venture agreement, financing arrangements and a construction contract with a builder as well as planning and other government approvals.