Multiplex Tops Out $194m Student Tower in Melbourne

Multiplex has topped out the 40-storey structure of a $194-million purpose-built student accommodation (PBSA) tower in Melbourne’s CBD, marking a milestone for the growing student housing sector.

The tier 1 builder has capped off the tallest point of the Market Way development at 100 Franklin Street for Journal Student Living, a joint venture between the operator and Brookfield Asset Management.

The project is within the Queen Victoria Market precinct in the Melbourne CBD and will deliver 715 rooms providing 1010 beds when complete, across both shared and individual living configurations.

Designed by COX Architects, the tower includes more than 3000sq m of communal amenities, including study rooms, a library, a gym, a cinema, music and gaming rooms, and a rooftop terrace. More than 350sq m of retail space is also planned at ground level.

The tower, which has no on-site parking, will offer 172 bicycle spaces. 

The project incorporates the four-storey heritage-listed Burbank House, built in 1840, which will house shared facilities including a kitchen, dining area, study rooms and an entry lobby.

▲ Multiplex has reached the top of the structure and construction is due to finish on the Journal Living project in September.

Burbank House was once home to refrigeration pioneer James Harrison, who lived there for about four decades from 1850 and established the Victorian Ice Works. Harrison developed one of the world’s earliest mechanical ice-making machines at the site.

During construction, the development has around 250 workers on-site daily. Multiplex said several prefabrication techniques were being used to improve efficiency, including 983 offsite-fabricated bathroom pods, precast façade panels with integrated brickwork and prefabricated column boxes.

A modular curtain wall façade, pre-assembled rooftop plant and prefabricated planter boxes have also been manufactured offsite, Multiplex regional managing director for Victoria and South Australia Ross Snowball said. 

Before construction began, heritage specialists conducted archaeological investigations within the boundary of the Wurundjeri Woi Wurrung Cultural Heritage Aboriginal Corporation.

Excavations uncovered structural remnants of Harrison’s historic ice machine as well as artefacts dating back to the 1850s, including glass bottles, ceramic jugs, Wedgwood mugs and other household items.

Multiplex previously partnered with Journal Student Living and Brookfield on the Campus House PBSA project at Carlton, completed in April 2025.

Construction of Market Way is scheduled for completion in September 2026.

Journal Living has also put its foot on a site in Adelaide where PBSA is booming.