An additional $241 million will go towards the Melbourne Arts Precinct Transformation project, which will see more than 11,000 jobs created over the life of the build.
The additional funding from the Victorian Government brings the total investment to $1.7 billion.
The upgrade will include two new restaurants and bars at the northern end of 18,000 square metres of new elevated public parkland connecting Hamer Hall to the new NGV Contemporary.
The State Theatre will undergo its most significant refurbishment since it was built – improving accessibility, making seating more comfortable and upgrading acoustics.
To ensure that the show can go on, the project will also upgrade back of house facilities, build new rehearsal spaces and create two new loading docks.
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Technology at the theatre will be overhauled with new state-of-the-art lighting, sound system upgrades and new live streaming capabilities.
Works will also be carried out on the building’s uniquely engineered foundation and basement structure, upgrading decades-old corrosion prevention systems.
New parkland and open space will provide space for festivals and several cultural, artistic and community organisations – hosting major events, live performances and new public art.
“Restoring this site to its original glory is a wonderful legacy for the people of Victoria and our new restaurants and bars will transform the visitor experience,” Arts Centre Melbourne CEO Claire Spencer said.
The Government is fast-tracking investment in the Melbourne Arts Precinct Transformation to reduce disruption.
Victorian Creative Industries Minister Danny Pearson said the transformation will create thousands of local jobs and cement Victoria’s reputation as cultural capital of the country.
“The vital works to the State Theatre will transform the building inside and out, making it more accessible and comfortable, and keeping it at the cutting edge of live performance venues in the country,” Pearson said.