In 2018, the Government of Victoria announced an initial $208 million investment in the first phase of a major redevelopment of the precinct, including a new contemporary art gallery, NGV Contemporary; significant upgrades to Arts Centre Melbourne’s State Theatre, back-of-house facilities, and critical maintenance works; and of new and renewed public space. This initial investment also included the purchase of the building at 77 Southbank Boulevard, to be demolished so NGV Contemporary could be built.
