A hybrid timber tower in the Melbourne suburb of Collingwood has received a $70 million investment from the Clean Energy Finance Corporation (CEFC) as the first of many mass timber builds under the Timber Buildings Program.
Designed by Jackson Clements Burrows (JCB), the sustainable commercial office tower will comprise 15 storeys: 10 levels of timber tower on top of five levels of reinforced concrete podium.
Named “T3 Collingwood” for its adoption of “a timber, transit and technology-orientated development methodology”, the building will use around 4,000 cubic metres of timber for the structural frame supplied by a local manufacturer, fixing in place around 3,000 tons of carbon.
Located at 36 Wellington Street, T3 Collingwood is slated to be one of Melbourne’s tallest hybrid mass timber buildings, delivering reduced emissions by as much as 40 percent during the construction phase. Once operational, the T3 building will target net zero carbon emissions in its day-to-day functions.
CEFC’s $70-million debt finance commitment is delivered through the specialist CEFC Timber Building Program, $300 million fund aimed at kick-starting mass timber construction in Australia. CEFC expects a 6 percent return on its investment, intended to cover construction plus a lease-up period of the building.
CEFC chief executive Ian Learmonth said, “We are very pleased to announce T3 Collingwood as our first investment under the innovative CEFC Timber Building Program, which aims to encourage the use of mass timber in the construction sector.
“Mass timber can play an important role in decarbonizing the buildings that make up our cities and this investment showcases how timber can be used to change the way we approach commercial scale buildings.”
Developer Hines acquired the site in 2019 and construction on the tower is already underway. The $200-million tower is expected to be completed mid-to-late 2023.
Source: Architecture - architectureau
