Government and industry drive Frankston City’s transformation
Published on 06 November 2025
Frankston City welcomed more than 100 influential industry leaders to the Property Council of Australia’s recent ‘Visioning the Future of Development in Frankston’ forum, underscoring growing confidence in Frankston City as one of Victoria’s most exciting investment and development destinations.
With representation from all three levels of government and senior industry experts in attendance, the forum showcased a unified commitment to accelerating Frankston City’s evolution from a traditional suburban town into a thriving, modern metropolitan city on the bay.
Recent major public and private investment has helped propel Frankston City into the national spotlight. Property analyst Terry Ryder recently described Frankston as “one of the hottest markets in Victoria, if not nationally,” reflecting strengthened market performance, institutional investment and ongoing government support.
Minister for Planning, the Hon. Sonya Kilkenny MP, Federal Member for Dunkley Jodie Belyea MP, and Frankston City Mayor Cr Kris Bolam JP joined keynote speakers and panellists including representatives from Monash University, Charter Keck Cramer, Bates Smart and the Mornington Peninsula Regional Tourism Board.
Key discussions centred around unlocking development potential, planning innovation, housing delivery and economic opportunity, positioning Frankston City as a powerhouse for jobs, investment and urban renewal as Victoria’s next metropolitan city.
Minister Kilkenny noted she is “very excited about the potential and possibilities of Frankston.”
Frankston City Mayor Kris Bolam JP agreed, adding “We have all the right ingredients – the location, the leadership, the partnerships, and now the momentum.”
“We back well-planned, well-designed development that elevates our community and grows our economy. By providing speed, clarity and certainty, we're creating the right conditions for investment, and the results speak for themselves.”
“Frankston is outpacing some of Australia’s most recognisable growth markets, including Surfers Paradise on the Gold Coast and Ryde in Sydney, with hundreds of millions of dollars in approved development, nearly 1,000 new city-centre apartments in the pipeline, and close to 700 new businesses established in the past year alone.”
“From emerging start-ups to major national brands like The Sporting Globe, TGI Fridays, Starbucks and UNIQLO, investment confidence in Frankston has never been stronger.”
Frankston City Council highlighted several initiatives designed to attract high-quality development and support faster decision-making:
- Special Economic Priority Area (SEPA) feasibility study, backed by a $35,000 Council-funded business case which identified a potential $4 return to the local economy for every $1 invested in strategic development initiatives. The study explores opportunities to strengthen connections between Frankston’s city centre, Monash University Peninsula Campus, Frankston Hospital and Chisholm Institute — positioning the precinct as a hub for health, education, research and innovation that delivers jobs, diverse and affordable housing, and greater activity within the city centre.
- Development Contributions Plan (DCP) Overlay — approved by the Victorian Government on 25 September 2025 through Amendment C161fran, introducing Frankston City Council’s first-ever DCP into the Planning Scheme. This milestone means that future developments in Frankston’s city centre will contribute financially to revitalised public infrastructure, including major upgrades to Playne Street ($16.691 million) and Kananook Creek Boulevard ($15.399 million). The DCP ensures that as development occurs, it directly supports the delivery of high-quality streetscapes, public spaces and infrastructure improvements, creating a more attractive, accessible and economically vibrant city centre.
- Public Acquisition Overlay (PAO) — introduced alongside the DCP through Amendment C161fran, approved by the Victorian Government on 25 September 2025. The overlay provides Council with the statutory tools to secure key land parcels within the Frankston Metropolitan Activity Centre that are critical to achieving long-term public realm and connectivity goals. By enabling future pedestrian links and urban design improvements, the PAO will help deliver a safer, more walkable and better-connected city centre that aligns with the FMAC Structure Plan vision.
- Differential rates applied to vacant land in the city centre as part of Council’s adopted Revenue and Rating Plan 2025–2029. Vacant properties within the Frankston Metropolitan Activity Centre (FMAC) and along the Nepean Highway now attract a rate set at 300 per cent of the general rate, up from 125 per cent under the previous plan. The policy aims to deter land-banking, stimulate redevelopment of underutilised sites, and ensure revenue generated is reinvested to support growth and reduce the overall burden on other ratepayers.
- Faster delivery, fewer roadblocks — a comprehensive review of post-permit processes is currently underway to streamline how developments transition from planning approval to construction. This includes simplifying asset protection, occupation of Council land, and drainage and crossover approvals to deliver a faster, more predictable experience for developers.
Council also reaffirmed its role in delivering the Victorian Government’s target of 33,000 new dwellings in Frankston City by 2051, facilitating diverse, affordable and well-located housing near key transport, employment, education and health precincts.
Independent property data analytics firm PropTrack announced last month that Frankston’s booming property sector was the “key to Melbourne regaining its status as a $1 million City” by the end of November.
Victorian Executive Director of the Property Council Cath Evans acknowledged Frankston City’s proactive approach to shaping economic and planning policy.
“Frankston is setting a benchmark in local government leadership. The combination of planning reform, investment certainty and a clear economic vision makes Frankston a compelling proposition for developers, investors and businesses,” said Ms Evans.
Frankston City’s revitalisation extends beyond development, with the City increasingly recognised as a premier coastal destination.
With its waterfront, arts and culture, award-winning events, dining experiences, natural reserves and sporting facilities, Frankston City is now viewed as a destination in its own right, strengthening the region’s visitor economy.
Mornington Peninsula Regional Tourism Board Chair Roger Lancia reinforced this message, saying “Frankston isn’t simply a gateway, it is a destination.”
“With its beaches, culture, food scene and events, Frankston is attracting locals, day-trippers and interstate and international visitors alike,” Mr Lancia said.
“A vibrant, modern, connected city centre enhances the entire region and fuels long-term economic benefit across the peninsula.”
To learn more about development opportunities in Frankston City or Council’s Special Economic Priority Area proposal, please contact development@frankston.vic.gov.au