Lendlease, Homes Victoria Break Ground on 248-Unit Social Housing Real Estate Development at Elgin Towers in Carlton

MELBOURNE, May 30, 2026 — Lendlease and Homes Victoria have broken ground on a social housing real estate development at Elgin Towers in Carlton, Victoria, marking the start of construction on two new residential buildings that will deliver 248 apartments on a cleared inner-city public housing site.

The project, announced May 30, is being delivered under Victoria's Big Housing Build and is also supported through the Australian Government's Social Housing Accelerator investment.

Project Details: Scale, Mix, and Timeline

The Elgin Towers redevelopment will comprise 248 modern, energy-efficient apartments across two new buildings in Carlton, close to transport and essential services. The new development increases social housing on the site by 26 percent compared with the previous estate configuration.

The apartment mix is designed to serve a diverse resident population, including four- and five-bedroom homes for larger families. The scheme also incorporates shared community spaces.

Demolition of the former Elgin Towers was completed by Homes Victoria prior to the construction start. Project completion is targeted for 2028.

Bill Alexandrakis, Executive General Manager, Victoria, Construction, Lendlease, said the project is intended to generate lasting social impact alongside the renewal of housing infrastructure. "Lendlease is working in partnership with Homes Victoria to deliver a project that will create lasting social impact, renew critical housing infrastructure, and provide more Victorians with access to much-needed housing where it's needed most," Alexandrakis said.

Lendlease's Position in Government-Backed Residential Development

Lendlease has described a long history of partnering with government to deliver complex urban renewal, housing, and social infrastructure projects across Australia. The Elgin Towers contract is consistent with that stated focus on government-partnered urban renewal and social infrastructure delivery.

No transaction price, loan amount, or financial terms were disclosed in connection with the Elgin Towers construction start, consistent with the project's structure as a government-funded social housing contract.

Sources

Lendlease Media Release: Construction begins on new social housing at Elgin Towers, May 30, 2026