The City of Melbourne’s 2025–26 draft budget outlines a suite of major investments designed to enhance community infrastructure and public spaces across the municipality.
The proposed budget focuses on upgrading neighbourhood facilities, expanding public libraries, and delivering long-term improvements to iconic city landmarks. In total, the city is proposing a $44.3 million investment to boost open space and upgrade parks, gardens and streetscapes across Melbourne.
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A $2.2 million plan to transform Southbank’s Northern Undercroft into a new open-air destination for local residents is among plans.
Alongside the new park, the council has committed $5.3 million to expand the library at the Boyd Community Hub, creating a larger, more modern facility to meet the needs of the growing population. Additional projects in the area include ongoing work on Southbank Boulevard and the promenade, as well as an upgrade to the ACCA forecourt.
One of the city’s most significant community investments will see $40 million spent over the next four years to redevelop the North Melbourne Community Centre. The centre is a long-standing fixture in the neighbourhood, and the overhaul aims to ensure it remains a hub for recreation, support and social connection.
The draft budget also highlights progress on some of Melbourne’s most high-profile urban renewal projects. The first stage of the Greenline Project—designed to revitalise the north bank of the Yarra River—is expected to be completed by the end of 2025. The initial works include 450 metres of new boardwalks, promenades and green spaces at Birrarung Marr.
Meanwhile, the ongoing renewal of the Queen Victoria Market precinct remains a central focus, with $35 million allocated in this budget to continue improvements. The newly opened Queens Food Hall and restored Trader Sheds mark key milestones in the project, which aims to balance heritage preservation with modern functionality.
The budget builds on recent successes such as the launch of narrm ngarrgu, a library and family services centre near the Queen Victoria Market, and the soon-to-open Kensington Community Aquatic and Recreation Centre—both cited as models for community-driven design.
Melbourne residents can provide feedback on the draft budget before it is finalised later this year.
