As reported by The Herald Sun, the site is set to be redeveloped into a ‘mini-suburb’ called The Malt District.
The project will see the clock working once again, incorporated into an area featuring a rooftop bar, micro brewery, plaza and bike cafes, as well as apartments and a supermarket.
After being rejected by Yarra City Council, the planning permit was ultimately given the go-ahead by VCAT.
The derelict Cremorne site last made news when some crafty Melbournians infiltrated the premises to turn the clock back on.
Image via Flikr.
