finance
Northcote Plaza Redevelopment: Here's What Changes for Shoppers and Residents
Approved changes at Northcote Plaza and nearby sites will alter retail access, parking options and housing supply in the coming years.
How we reported this
The Victorian Civil and Administrative Tribunal approved a $500 million mixed-use project called Northcote Green that will replace part of Northcote Plaza with an 18-storey apartment tower, more than 600 dwellings, 6,500 square metres of retail space and 15,000 square metres of A-grade office space.
Everyday residents rely on the existing Kmart and Coles stores inside the plaza for weekly shopping. The redevelopment will eventually affect those stores, while an amendment now before Darebin City Council seeks to raise the dwelling count from 605 to 633 and reduce on-site car parking by converting one building from office to residential use.
Why the changes matter for daily routines
Shoppers who drive to the plaza will face tighter parking once the amendment takes effect. At the same time, the shift of floor space from office to residential use increases the number of people living on site, which could change peak-hour foot traffic around the centre without adding extra vehicle spaces.
Time & Place, the developer, paid $60 million last year for the Northcote Plaza land that includes the Kmart and Coles tenancies. Those stores are listed for medium-term redevelopment, so residents should expect phased construction rather than an immediate closure.
Market activity signals further pressure on commercial sites
Citinova recently bought a major industrial site in Northcote for $20 million, showing continued investor interest in properties that could convert to mixed-use projects. This transaction adds to the tightening supply of industrial land available for other commercial purposes.
Construction on the Northcote Green project is expected to begin by mid-2027. Residents who use the plaza regularly can monitor Darebin City Council updates on the permit amendment to track any interim changes to parking or store layouts before work starts.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.