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Crown's Extension Request for Australia's Tallest Tower Denied

Crown Resorts announced in late February that it and its joint venture partner, the Schiavello Group, had applied to the Victorian government for an extension to the construction commencement date for the proposed One Queensbridge project.

The developer's initial confidence in Melbourne's apartment market when purchasing the site had been stifled over recent months, instead opting to sell the asset as demand softens to recycle funds for commercial assets.

Developer Woodlink also scrapped plans for a $360 million residential development on Melbourne’s busy St Kilda Road, instead opting to list the property known as Illoura House.

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