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Albert Park Residents Challenge 150-Apartment Lake Street Development Plan
Albert Park residents and a developer square off over plans for 150 new apartments on Lake Street.
How we reported this
Albert Park residents have lodged formal objections to a 12-storey mixed-use project at the corner of Lake Street and Park Road, with the city planning office confirming receipt of 87 submissions by the July 3 deadline.
The timing coincides with a sharp rise in local property values after two years of limited new supply, pushing median apartment prices to $892,000 as of June 2026 and prompting developers to target underused commercial sites near the Albert Park tram line.
The Albert Park Residents Association has organised three public meetings at the Albert Park Community Centre since May, while the proposed site sits two blocks from the South Albert Park playground and across from the former tram depot now used for weekly markets.
Developer arguments
Project documents filed with the planning office show the scheme would deliver 150 apartments, 40 per cent of them one-bedroom units priced from $685,000, plus ground-floor retail and 120 underground parking spaces. The developer cites a 2025 city housing target that calls for 2,400 additional dwellings by 2030 and notes the location is within 400 metres of the tram stop, reducing the need for extra car ownership.
Resident objections
Opponents argue the height would cast shadows over the playground for four hours daily in winter and increase traffic on Park Road by an estimated 220 vehicles at peak times. They point to a 2024 traffic study by the city that already flagged congestion at the Lake Street intersection during morning rush hour.
The planning commission is scheduled to hold a public hearing on July 22 at the Albert Park Library meeting room, after which commissioners will vote on whether to approve, modify or reject the application. Residents can register to speak by emailing the planning office before July 15.
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