Developers plan to restart Melbourne’s famous Nylex clock as part of a $1 billion precinct proposed at the former maltings site near the Yarra River in Melbourne’s inner north.

The heritage-listed clock in Cremorne last flashed from the silos in 2009 when the Nylex Plastics company went into liquidation, apart from a brief moment where trespassers are understood to have switched it on again earlier this year.

Developer Joe Russo said under the plans the neon sign would be powered by green energy and is expected to be fully restored in four years.

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“Once it’s up there it will be lit up and stay lit up,” he said.

“We’ve come up with a system to run it on green energy so it will never be turned off again.”

The proposal has yet to be approved by the City of Yarra, but so far discussions have been good, Mr Russo said.

Yarra City Council Mayor Roberto Colanzi said the application was being reviewed of officers, who have 28 days to consider the proposal.

The clock will be the centre piece of a new 1.4 hectare precinct. Photo: ABC

“Part of the application is for a 21-storey development on site, there’s issues with regards to the Nylex sign being retained, however the silos are not proposed to be maintained,” he said.

“So essentially, given that we’ve only got it yesterday that is all I know at this stage and it’s up to our officers now to go through the fine detail of what the application suggests.”

Lead architect David Sutherland said it was an exciting project.

“We’re really excited that we’re putting a new development in amongst the wonderful heritage buildings on this site, and as part of that going to rejuvenate that sign and let it live again,” he said.

Mr Sutherland said the sign would sit on top of the malting storage silos.

“I think once we get passed this stage of talking with the council and getting appropriate permits there’ll be a lot of people looking at how we can turn it on as soon as we can,” he said.

Mr Russo said the clock would be the centre piece of the new 1.4 hectare precinct, named the Malt District.

“We’re hoping to put in a rooftop bar,” he said.

“Below the clock we’ll have public space for people to go up and see the clock and look over Melbourne, the views are fantastic from there.”

He said the naming of the new site came from inspiration from districts around the world.

“Some international cities like Beijing, London and New York’s Meatpacking District all transpired from manufacturing industrial suburbs,” Mr Russo said.

“We thought that was a perfect fit.”

The new district was inspired from others around the world. Photo: AAP

Proposal to demolish some heritage buildings

The Malt District will house about 1,100 apartments, as well as commercial and office buildings.
There will also be a microbrewery, including cafes and restaurants.

Mr Sutherland said some of the newer silos at the site would be demolished.

“There’s quite a range of heritage buildings, and some of them are going to be demolished because they are not quite so significant,” he said.

“Some we’re going to keep.

“You’ve got the older silos, and they will form the heart of the new buildings around them.

“The newer silos which are the bigger ones standing proud in front of the freeway, will go.”