‘Unprecedented’ transformation rises along Frankston’s Nepean Highway
Published on 10 December 2025
Frankston City Council has approved an unprecedented trio of major development proposals along the Nepean Highway at its 8 December Council meeting, unlocking one of the most significant bursts of private investment the city has ever seen.
The three applications, worth a combined $137 million, will accelerate revitalisation of this key precinct while significantly boosting housing supply and diversity, helping Frankston to keep pace with rising real estate demand across the municipality.
Together, these projects will deliver 312 new apartments, 388 parking spaces and a vibrant mix of ground-floor retail, hospitality and office space, adding energy, activity and new life to Frankston’s city centre.
Mayor Kris Bolam JP said this level of investment demonstrates that the Frankston Metropolitan Activity Centre (FMAC) Structure Plan is working as intended, giving developers clear direction and confidence while ensuring major planning decisions remain local.
“These approvals affirm the strategic and practical work driving Frankston’s transformation – from an unassuming seaside town to a regional waterfront city,” Mayor Bolam said. “Securing three major developments in a single meeting is exceptional and virtually unprecedented for an outer suburban council. It reflects the deep confidence investors have in Frankston City’s future and proves that our city isn’t just growing, it’s booming”
Garry Ebbott, Founder of local advocacy group, Advance Frankston, agreed: “Monday night’s council meeting was historic with all three developments approved without a single word of opposition. The time is now for Frankston to bloom.”
The first development, 431 Nepean Highway, between Quest and Dan Murphy’s, will deliver a 14-storey mixed-use building with 138 apartments, four street-level shops and a rooftop terrace overlooking the bay, with secure parking accessed via Keys Street.
The second project at 347–349 Nepean Highway, near
This location sits slightly on the periphery of the main Nepean Highway strip and is in an area undergoing significant gentrification. Recent improvement works at the former Ambassador site — including the new Sinopec facility — are contributing to this uplift and the property adjoining 347–349 Nepean Highway has also lodged a major development proposal which is currently under assessment.
The third approval updates an existing plan for 424–426 Nepean Highway, spanning Beach Street to Kananook Creek Boulevard. The revised design retains 105 apartments while improving the layout, enhancing bicycle parking and refining the apartment mix. Following approval, the applicant has withdrawn its VCAT application
Patrick Ng, Director of Own Your Own Block, commented on their desire to help drive Frankston’s next phase of growth: “We have confidence in Council’s vision and planning processes. That confidence is why we chose to re-engage with the process. We believe Frankston is heading in the right direction and we want to be part of that journey.”
David Friend, Chair of the Frankston Business Collective agreed that the developments show strong confidence in the precinct’s future.
“More residents and more businesses mean more activation, jobs and investment,” Mr Friend said. “The Nepean Highway is no longer simply a thoroughfare to the Mornington Peninsula — it’s becoming a destination; a place people and businesses want to call home.”
Recently Council has approved five major projects totalling $231 million in private investment. The $140 million Harbour Frankston build is already rising and Pace’s $91 million tower at the former cinema site is set to follow soon.
“The sheer volume of planning proposals now moving through Council’s pipeline validates UrbanDC’s decision to invest in Frankston. The city is exploding with opportunity, and it’s clear we made the right call,” said Danny Ciarma, Director of Urban DC.
These new mixed-use developments will be supported by the Nepean Boulevard Precinct Revitalisation, a $60 million co-funded transformation, including an additional $10 million from Council, that will reshape the Nepean Highway into a safer, greener, people-focused boulevard linking the city centre and waterfront, encouraging more people to stop, stay and live in Frankston.
Mayor Bolam said the timing could not be better, with city-shaping strategies and private investment now progressing in harmony. The FMAC Structure Plan and Nepean Boulevard Precinct Revitalisation project are redefining the corridor, while developers are responding with proposals that embrace walkability, transport access and mixed-use living.
To support this momentum, Council is developing a Priority Fasttrack Program, guaranteeing a 16-week assessment for qualifying major developments and the First Home Buyer Subsidy, offering a one-off $1,000 payment to eligible first-home buyers in Frankston City, helping tackle housing demand and affordability. Council is also considering a differential rate on long-term vacant commercial properties to deter land-banking, encouraging activation and supporting local business growth.
“Frankston City is rising, and these developments show what becomes possible when a city invests in itself,” Mayor Bolam said. “We welcome this momentum, and we’re ready to turn these development opportunities into real, usable spaces for our city.”
Frankston’s population is forecast to exceed 150,000 by 2051, driving demand for 33,000 new homes and more than 50,000 sqm of new retail and hospitality space. These approvals meet that growth, adding higher-density development and creating new employment opportunities that strengthen the activity centre’s economic base.
“These projects will boost visitation and strengthen Frankston as a destination. We’re working to expand all forms local stay options — including short-term accommodation — to support that growth,” said Mayor Bolam.
More information on the proposals is available in the agenda of the 8 December Council Meeting: www.frankston.vic.gov.au/Council/Council-and-committee-meetings/Past-Council-Meeting-Agendas-and-Minutes.