Victoria’s planning minister Matthew Guy yesterday announced the approval, which will complete the Dudley Street/Harbour Esplanade gateway of Docklands.
The 37-storey residential and hotel building will comprise 360 apartments as well as 176 hotel rooms, and is expected to generate more than 480 jobs during construction and 125 ongoing jobs.
Mr Guy said "Docklands continues to evolve as Australia's most exciting urban renewal precinct, with good transport connections to Melbourne's CBD."
“This new development adds to the high quality residential and hotel accommodation offered by Melbourne and is a huge boost for the northern end of the Docklands precinct," he said.
Upon completion, Docklands is expected to be home to more than 20,000 residents, 60,000 workers and millions of visitors annually.