Resolution, Monark Greenlit for Greenvale 300-Home Plan

Melbourne developer Resolution Property Group has secured a major milestone approval for its plans for the north Melbourne suburb of Greenvale. 

Alongside Liberman family-backed financier Monark Property Partners, Resolution has secured rezoning approval as well as the planning permit for a 15ha infill site in Greenvale, 20km north of Melbourne CBD. 

The site, at 800 and 820 Somerton Road project was acquired in 2025 for $44 million, marking the second joint venture with Monark. 

It is the last sizeable landholding in Greenvale, according to Resolution.

The JV has secured approval from Hume City Council for the masterplan for the Viridian community.

The 300-home estate would have a mix of residential lots and townhouses, with an estimated end value of $150 million

The rezoning plans have been in the works since prior to the acquisition, with an amendment to develop the Somerton Road precinct opening for consultation in 2024. 

The initial rezoning plans include new parks for leisure and recreation, with walking and cycling paths.

▲ An aerial overview of the Harli community in Cranbourne West, the first project Monark and Resolution worked together on.

It asked to rezone the land to a new urban growth zone, and the original rezoning plans for the site detailed 250 homes which have been upscaled in the Resolution project.

Houses in Greenvale rose incrementally in the past 12 months to $880,000, but the suburb is known for its owner-occupied, large plots which are increasingly making way for more higher density residential.

Ten minutes from Melbourne Airport, the development builds on an existing joint venture development between Monark and Resolution, at the sold-out Harli community in Cranbourne West. 

Land lots will be priced from $400,000 while townhouses will go upwards from $615,000. 

Resolution confirmed that it would develop the project over the next three years, with home builder partners in train but a civil construction partner yet to be confirmed. 

Greenvale has attracted developers including Chinese-Australian real estate investor Jinding, which filed plans for a $228-million community with Hume City Council in 2023. 

The suburb has also caught the attention of the government, which signed off a precinct structure plan to make way for development of the site between Greenvale North and Craigieburn West last year.