A newly opened development on the former Larundel Hospital site in Bundoora is expected to create about 3500 construction jobs by completion.

The Polaris 3083 infill development, opened by Planning Minister Matthew Guy, is expected to provide more than 1100 dwellings on 11 hectares of land next door to La Trobe University and Bundoora Park.

The new town centre will also feature retail, education and business opportunities with the population in the northern region of Melbourne expected to grow from 400,000 to 470,000 by 2031.

“The development will provide much need housing variety, especially for the growing student population with La Trobe University and RMIT nearby,” Mr Guy said.

The Minister officially opened stage one of the Polaris project, which forms part of the Plan Melbourne vision. Among the initial stage is a shopping centre and 64 apartments with a further 140 townhouses and apartment due to come online next year.

DealCorp recently received approval for a $300 million Village Precinct Plan, including expanded retail, more townhouses and apartments, restoration of heritage buildings and the possibility of student housing and an aged care facility.