A NEW master plan with towers, shops and open space has been approved for the former Melbourne Convention Centre site on Spencer Street, overlooking the Yarra River.
Minister for Planning Richard Wynne has approved a $200 million, three tower development as part of plans to transform the under-used and dated site.
The Docklands North Wharf promenade is set for more than $1 billion worth of residential and commercial development and work is already underway.
Latest plans include three apartment buildings, ranging from 27 to 34 storeys, which will have a total of 1060 apartments, retail space, 451 car and 160 bicycle spaces.
According to the government, shadowing studies have determined maximum building heights for the towers to avoid shadowing the Yarra River beyond the existing buildings.
The developer has agreed to change their plans to allow Sidderley Street to be open to the sky for the full length of the site, removing footbridges and overhauling public open space.
A master plan was prepared because the project the size and scale of the project means it will be delivered in stages, and master planning sets a clear vision for the site's future.
Each stage will have detailed plans so the buildings have protection from train noise, good sunlight and communal facilities for future residents.
Parts of the former Melbourne Convention Centre are being demolished to make way for the development, but the 13-level Crowne Plaza Hotel which overlooks the Yarra River will remain intact.