Proposed Rezoning Could Transform Moonee Ponds Suburb

Moonee Valley City Council lodged a rezoning application on July 2 that targets two blocks of underused industrial land bounded by Mount Alexander Road and Homer Street.

The move arrives as the suburb records its strongest quarterly price growth in five years, with median unit values climbing to $712,000 according to the latest Domain data release.

Under the draft controls, buildings up to eight storeys would be permitted on the Homer Street frontage, while the Mount Alexander Road parcels could reach twelve storeys with ground-floor retail.

Local sites in the frame

The affected land sits 400 metres from Puckle Street’s retail strip and directly opposite the Moonee Ponds Market site, where traders have operated since 1983.

Residents in nearby Holmes Street and the Moonee Ponds Junction precinct have already formed a residents’ reference group to review traffic modelling that predicts an extra 1,200 vehicle movements each weekday.

Council documents show the rezoning would deliver at least 380 apartments and 2,200 square metres of new commercial floor space, replacing warehouses last used by a packaging firm that closed in 2023.

Next steps for residents

Public exhibition of the planning scheme amendment begins on August 15 and runs for six weeks, with drop-in sessions scheduled at the Moonee Ponds Community Centre.

Submitters can track progress through the council’s online portal or attend the ordinary meeting on October 27, when councillors are expected to decide whether to forward the amendment to the state planning minister.

Property analysts at local agency Rendina Real Estate note that similar rezonings in adjacent suburbs produced a 14 per cent lift in nearby land values within 18 months of approval.

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.