The Victoria Market is in line for a major redevelopment. Source: News Limited
A MAJOR revamp of Victoria Market will attract more traders, visitors and is expected to create tens of thousands of jobs, Lord Mayor Robert Doyle says.
Cr Doyle said the project could cost up to $250 million and is expected to create 9000 jobs at the market, 12,000 jobs in the surrounding precinct and thousands of construction jobs.
Key upgrades will include a new park, essential infrastructure for traders, event spaces, improved car parking including an underground carpark, and better pedestrian access.
Cr Doyle and Premier Denis Napthine made the official announcement of the major redevelopment at 8am today.
Cr Doyle welcomed the decision by the State Government to enable the extension of the market precinct by transferring Crown land at the southern end of the market to the City of Melbourne.
Dr Napthine said the council would use the transferred land for an apartment and office development to help fund the market redevelopment.
Cr Doyle said the market precinct could become like a Federation Square of the city's north.
"To do nothing is not an option," he said.
The plans for the market will be developed over the next two years, with the project phased in over the next decade.
"We have an invaluable opportunity to create dynamic spaces for events and activities, bringing new vitality to the market precinct, particularly at night and outside current hours of operations," Cr Doyle said.
Dr Napthine said providing the land to the City of Melbourne would enable the market to expand its footprint.
"It will cater for the growth and patronage which is expected to reach 17 million annual visitors by 2031," Dr Napthine said.
The City of Melbourne will seek UNESCO world heritage listing for the market.
About 6000 bodies buried under the carpark, site of an early Melbourne cemetery, will not be moved under the revamp.
The market will continue to operate during the redevelopment.
The redevelopment was a key election pledge of Cr Doyle when he was returned to office in October last year.
He warned that the market faced ruin unless it was improved.
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