The Melbourne foodie scene is set to bolster yet again, with the announcement of The Marketplace at Watergardens.

Construction at the $50m food and dining precinct in Taylor’s Lakes has just begun, with the project already gaining traction.

The Marketplace is due to launch in mid-2020, encompassing over 5000sqm of transformed retail space in the new-to-trade area.

Government-owned real estate investment company, QICGRE is in charge of the new development. Chief operating officer, David Asplin said a focus on multi-discipline offerings would drive retail, dining and entertainment interest.

“Melbourne is home to some of Australia’s most iconic food markets and key to their continued success has been the incorporation of an engaging mix of on-site dining options,” he said.

“We’re creating a new community hub that allows residents of the north-west to experience that same vibrant marketplace energy and call it their own.”

The Marketplace at Watergardens builds on a number of other initiatives currently in progress, such as a large-scale serviced apartment offering and an Officeworks outlet.

The Taylor’s Lake development has the backing of Brimbank City Council, with Asplin suggesting the project opens doors to a growing region in Melbourne’s north-west.

“While the area is experiencing unprecedented growth, residents in the north-west have limited access to big city amenities,” he said.

“As a long-term community partner who considers the next 30 years, not just the next five years, we have the opportunity to create a truly exceptional destination that speaks to the way locals want to live,”.

The Marketplace at Watergardens will serve as a key development project in the extension on Melbourne’s outer regions, buoyed by an emerging middle class.

“We’ve been inspired by the ambitious spirit of Melbourne’s north-west,” Asplin said.

“This milestone development signals our vision for Watergardens as an ever-evolving future city that recognises and supports the local community’s unique values and aspirations.”