A mammoth mixed-use project for the Alphington paper mill site has been approved by the City of Yarra council.

Developers Time and Place and Corsair Capital filed plans in April, 2022 for the 20,660sq m site at 640 Heidelberg Road, Alphington.

The site is part of a larger 16.5ha precinct and was bought from Alphington developer Guy Nelson for $48 million earlier in 2022.

Amended plans for the site include six build-to-rent towers with 632 apartments atop a podium with 25,000sq m of retail, co-working spaces and community facilities. 

There will also be 150 affordable housing units, medical centre, gym, food and beverage premises, childcare centre and primary education centre within the project.

Three rounds of amendments were made to the original plans to finalise the space available for each use, appropriate license permissions and the location of the community facilities.

Original plans for the project were submitted to council in 2017 by Nelson.