The property will be within walking distance of Melbourne Convention and Exhibition Centre (MCEC) and is the latest sign of hotel development on the western edge of the city, following the openings of The Ritz-Carlton and Dorsett Melbourne in March.
A new developer entering the Melbourne market, Sterling Global has lodged plans for the project totalling more than $400 million directly with the state government’s planning ministry, rather than the Melbourne’s city council.
The mixed-use tower by architects Carr will offer residential apartments, including sub-penthouses.
It is understood there are some heritage buildings on the site, such as a former state bank chamber with its vaulted ceilings and façade to be incorporated into the modern building.
Echoing another popular Melbourne theme, there are plans for a rooftop bar and a fine dining restaurant.
The developers say they will also provide “inclusive and engaging spaces” for local residents, workers and travellers to connect, interact and celebrate.