The eight-storey 441 William Street development approval will lapse in four years if not substantially commenced. The eight-storey 441 William Street development approval will lapse in four years if not substantially commenced. Credit: Space Collective ArchitectsState planners have approved the first development assessed under the City of Vincent’s new William Street planning framework. The Metro Inner Development Assessment Panel voted 4-1 on Thursday in favour of the eight-storey $10 million mixed-use project at 441 William Street. Despite the William Street planning framework setting a height limit of six storeys, the development will reach eight stories.