City of Melbourne project update

As we pass the halfway point of the financial year, CBD News revisits the City of Melbourne’s annual budget to track the progress of major projects shaping the CBD community. 

This year, the council has committed to investing $224.7 million in new projects, upgrades, and renewals, with work already under way at the Queen Victoria Market (QVM) and construction of the Greenline Project expected to resume early this year.

According to Lord Mayor Nick Reece, there are more shovels in the ground than ever before, and he is pleased with the number of projects currently progressing.

“We’re doing what counts to improve public space for our residents, traders, and visitors,” Cr Reece said.

The QVM renewal is the largest of the projects, with $51.9 million allocated for this year. Works have begun on the new Trader Shed, so too has the first stage of works on Franklin St to deliver more than 1250 sqm of green space.

Additionally, excavation of the four-storey basement and the first concrete slab pour have recently been completed, and a tower crane was installed in January 2025 to continue construction of the four-level basement and three-storey structure.

Meanwhile, major construction will recommence in late March on Stage One of the Greenline Project in Birrarung Marr, which will deliver 450 metres of new boardwalks, promenades, and a variety of native habitats.

This stage is supported by $20 million from the Australian Government and a $24.5 million investment by the City of Melbourne. However, the cost of the entire four-kilometre project is expected to exceed $300 million, and a completion date is yet to be set.

The council has also completed and begun several major streetscape improvements, including a $5 million investment in works across 11 sites in the city.

In November 2024, the final stage of the Hardware Lane upgrade was finished, featuring the replacement of the existing surface with bluestone pavers, new tree plantings with protective tree guards, tactile surface indicators, and upgraded irrigation.

The streetscape has also been refreshed with a new bluestone surface, leafy jacaranda trees, and safety barriers. •