This incredible 68-storey skyscraper will soon be one of the tallest buildings in Melbourne

Photo: supplied.

The Victorian state government has approved a massive 68-storey twisted, glass tower to replace the old Savoy Tavern at the corner of Bourke and Spencer streets in Melbourne’s CBD — or as it is colloquially known as a “bomb site”.

The 226-metre apartment tower will be among the tallest in Melbourne. The tallest is the 297m Eureka Tower, the second tallest building in Australia.

Planning minister Richard Wynne, who announced the approval on site today, said: “This is an iconic new building for the west end of the CBD.

“This building will house more residents in a part of the of the CBD that is ripe for renewal, delivering more housing options for people wanting to live close to work and services.”

The government estimates that the city will need an additional 480,000 apartments by 2051 to accommodate a projected population of 7.7 million people.

The CBD site remained dormant for more than 20 years after the old tavern closed.

The development will eventually include 660 apartments and 160 hotel rooms, with apartment sizes ranging from one to three bedrooms and is worth an estimated $350 million.

The original proposal from the Fragrance Group was for a 300-metre skyscraper.

However the Melbourne City Council was concerned that it would overshadow some parts of the Yarra River.

The smallest apartment in the building will be 41 square metres.

While on average the apartments are 43 to 47 square metres.

The government believes the building provides a good investment opportunity for Australians, near services and transport.

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