In this leafy inner-city precinct is Australia's world-renowned biomedical research hub. It is home to the University of Melbourne and an impressive group of industry leaders including:
- world-class hospitals
- medical research institutes
- biomedical organisations
Up to 73,000 people work in Parkville and its researchers collaborate globally. This includes the University of Melbourne, which more than 55,000 students attend.
Parkville Precinct Opportunity Statement
The Parkville Precinct Opportunity Statement outlines the opportunities for Parkville as the centre of Victoria’s world-leading biomedical sector, where education, research and commercialisation combine to promote access to health care and create jobs.
Parkville has close to 73,000 jobs and could be home to more than 80,000 jobs by the mid-2030s. With over $2.8 billion investment in research and healthcare facilities over the past decade, it produces 20 per cent of Australia’s patent citations.
The Statement builds on the Melbourne Biomedical Strategic Plan (2018), renewing the focus on the biomedical sector as well as the innovation-led industries that make up the Precinct.
The Parkville Precinct Opportunity Statement outlines goals to:
- drive future investment
- nurture innovation
- attract talent and ideas
- coordinate whole of Victorian Government services and infrastructure
- foster physical and digital connection.
Investments for Parkville’s next phase
The Victorian Government has invested in Parkville with upgrades to the Royal Melbourne Hospital and Royal Women’s Hospital and the construction of a new Arden medical precinct. This follows an investment of $400 million towards the Australian Institute for Infectious Disease and $75 million towards the Cumming Global Centre for Pandemic Therapeutics.
Other significant projects and developments taking place within Parkville include:
- the development of CSL’s new global headquarters, with biotech incubator space for up to 40 startups.
- the construction of Parkville Metro Station as part of the Metro Tunnel Project.
Parkville is a key precinct in the next phase of economic growth for Victoria, with its existing strengths in biomedical and research capabilities, innovation, hospital investment, and university partners.
Where is Parkville?
Parkville Business Precinct is walking distance from Melbourne CBD.
Parkville in future
By 2030 this precinct is one of the world's best biomedical and research centres. It will be a place for people to pursue quality jobs and purposeful long-term careers. Precinct universities will provide well-educated talent for the growing Parkville workforce.
With a new Metro Tunnel station opening in 2025, Parkville will have fast and easy access across the city. By 2036 the precinct will have created up to:
- 10,000 additional jobs
- $14 billion in private funding
Australian Institute for Infectious Disease (AIID)
A new Australian Institute for Infectious Disease in Victoria is being developed to lead the fight against future pandemics.
Building on $155 million in funding announced in 2020, up to an additional $245 million will be delivered to get the project off the ground and build the Institute in the heart of the Parkville biomedical precinct(opens in a new window).
The $650 million project will also be supported with $250 million from the Foundation Partners – the University of Melbourne(opens in a new window), the Doherty Institute for Infection and Immunity(opens in a new window) and the Burnet Institute(opens in a new window).
Visit the AIID website(opens in a new window) to learn more.
Work and innovation in this precinct
Parkville is a designated National Employment and Innovation Cluster. Its world-class biomedical expertise will continue to expand. With this growth, new employment opportunities will arise. Research and discovery in Parkville will power innovation and drive the economic outcomes that create more jobs.
Key employment sectors in Parkville will be:
Parkville housing ranges from affordable student accommodation to heritage Victorian homes. Parkville Gardens(opens in a new window) is a housing development managed by Development Victoria. The 20-hectare site was formerly the Athletes’ Village for the 2006 Commonwealth Games. When complete, Parkville Gardens will have 1,000 homes, with 20 per cent dedicated to social housing.
Victoria’s world leading hospitals are in Parkville. This gives the precinct Melbourne’s most comprehensive medical services offer.
As well as hospitals, Parkville is home to a range of community services including youth justice, mental health and aged care. The precincts also has three leading universities and the University High School.
Parkville is already a precinct of high urban amenity. The precinct has a distinct Victorian architectural heritage. It is also renowned for its green space and urban forest including Royal Park.
The Melbourne Biomedical Precinct Strategic Plan(opens in a new window) has more information about the growth and development of Parkville Priority Precinct.