News | 31 August 2019
Prahran Square is an incredible infrastructure injection to revitalise the Chapel Street Precinct. It is a $60 million investment in a world-class public space that will be owned and enjoyed by all - with arts, entertainment, food and retail - that will ensure commercial sustainability and viability for years to come.
Once complete, people will be able to move from Prahran Market, Chapel Street, Commercial Road and Greville Street on fully lit and landscaped pedestrian or shared pathways.
We are transforming a former open-air car park into an active, vibrant, safe and wonderful public square for people to interact and connect. It will be a new backyard for residents and visitors
There will be ongoing significant benefits to local business - around 2 million people will visit every year, bringing in more than $20 million in spending to retailers and property value will increase around 10%.
The project start date was originally postponed to start after the 2017 festive and summer trading period, and despite some weather delays, we are on track to be fully open and activated in time for the 2019 festive period.
Last month we celebrated a significant milestone with the opening of approximately 500 underground car spaces.
Prahran Square Summer Series will ensure the area will be a hive of activity all summer with live music sessions, food markets, regular exercise sessions like yoga and tai-chi, pop up libraries, and of course festive activities. We are bringing back a vibrant live music scene that Prahran was known for.
Delivering this transformation of Prahran has required a significant construction program and we understand that it has been disruptive to local businesses. We have worked closely with local businesses from the early days before the project tender, and throughout construction with weekly updates, monthly meetings and familiarity tours. We have worked closely with the Chapel Street Precinct Association and they are strong supporters of this revitalisation.
For media, attribute the above to City of Stonnington Mayor, Cr Steve Stefanopoulos