A redevelopment plan submitted for Preston Market proposes about 900 apartments across eight towers, while retaining 81 per cent of the existing market footprint. As reported by ABC News on 2 October 2026, the proposal was under consideration by Victoria’s Planning Minister, with public feedback open until 14 October. It had not been approved, and no construction start date had been established.
What the Preston Market plan proposes
The figures below are details of the submitted plan as reported by ABC News in 2026. They describe a proposal, not approved or completed works; the primary plan and technical documents were not independently reviewed in that report.
| Proposal element | Detail reported by ABC News (2026) |
|---|---|
| Housing | About 900 apartments, with about 10 per cent of dwellings proposed as affordable housing |
| Towers | Eight towers, ranging from 8 to 16 storeys |
| Existing market footprint | 81 per cent proposed to be retained |
| Retail and commercial space | 14,000 square metres of additional specialty retail and commercial floor space |
| Public space | A proposed park of 2,700 square metres |
| Construction approach | The developer says works would be staged and car parking added to support the market during redevelopment; no schedule was reported |
What the proposal could mean for the market
The market opened in 1970 and ABC News describes it as Melbourne’s second-largest market. The plan would add housing and commercial uses around it while retaining most—but not all—of its existing footprint. The reported figures do not establish which specific buildings or market elements would be altered, how heritage significance would be treated in detail, or how the proposed towers would be laid out.
Preston Market Development Pty Ltd said the plan would keep the market in its existing location while renewing aging infrastructure and protecting its heritage significance. A company spokesperson described a stage-by-stage construction process and added parking as support for the market. Those are the developer’s claims; the available reporting does not include an independent assessment of construction impacts, heritage outcomes, or how trading would continue at each stage.
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Where the main stakeholders stand
Developer
Preston Market Development Pty Ltd submitted the master plan. It says the approach would renew infrastructure, retain the market in place and stage construction. These statements explain the developer’s case for the proposal, rather than findings that those outcomes are assured.
Darebin City Council
The council said it would prepare a submission and encouraged residents to provide feedback. Mayor Emily Dimitriadis said council wanted to accommodate a growing community while protecting the market’s character. The council had previously opposed proposals involving substantial demolition, according to ABC News.
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Victorian Greens
The Victorian Greens called on state and federal governments to acquire the market and criticized the consultation process. Greens MP Anasina Gray-Barberio described it as an important multicultural community space. These are the Greens’ advocacy and criticism, not settled findings about the process or the proposal’s effects.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happens next
When ABC News reported the submission on 2 October 2026, Victorian Planning Minister Sonya Kilkenny was considering the plan and public feedback was open until 14 October 2026. The reporting does not establish a decision date, final approval, final design or construction timetable. Residents seeking to comment should check the Victorian Government’s consultation information for the current process and any updates, because the reported feedback deadline has now passed.
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Earlier Preston Market redevelopment proposals were controversial. ABC News reported that Darebin City Council had fought proposals involving substantial demolition. The current proposal should therefore be judged on its submitted details and subsequent planning decisions, rather than treated as an already-settled redevelopment.
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