Preston Market Redevelopment Plan Preserves Market's Footprint

A master plan for the redevelopment of Preston Market proposes to preserve 81 per cent of the market's footprint and construct about 900 apartments in eight residential towers surrounding the market.

The plan, submitted to Planning Minister Sonya Kilkenny, includes the addition of 14,000 square metres of "specialty retail" and commercial floor space, as well as a new 2,700-square-metre park. Affordable housing will make up some 10 per cent of the dwellings.

Mayor Emily Dimitriadis said the Darebin City Council was focused on providing space and accommodation for the growing community while "protecting the market's unique character".

"The future of Preston Market precinct should be shaped by the people who know it, love it and rely on it every day," she said.

The Preston Market, which opened in 1970 and is Melbourne's second-largest market, is privately owned by Medich Corporation, a Sydney-based property investment firm.

Community members can provide feedback on the plans to the Victorian government until October 14. A Victorian government spokesperson said Labor would "protect Preston Market's heritage as homes are delivered near Preston Station".

"We understand there is strong community interest in this site and that is why we're encouraging the community to give feedback on the proposal," they said. "The plan is currently being considered and it would therefore be inappropriate to comment on its contents."

The Victorian Greens have called on the state and federal governments to acquire Preston Market, criticising what they said was "woefully inadequate" community consultation.

"Preston Market is one of the most important multicultural community spaces in Melbourne's north," Greens MP Anasina Gray-Barberio said. "We need to make sure that any plans are putting the community and traders first, and that we're protecting what makes Preston market the special place that it is."