Designed by Plus Studio with interiors by Fiona Lynch, the project will deliver 320 residences across four collections, along with more than 2700 sqm of office space and 900 sqm of retail and hospitality space fronting Collins and Spencer streets.

Sterling Global director Brandon Yeoh said the project was as much about stewardship as development.

“623 Collins Street is about stewardship as much as it is development. This is a complex heritage site at the heart of the city, and it demands a delivery partner with the experience, discipline and respect required to do it justice,” he said.

Hacer Group director Vin Sammartino said the company was proud to help deliver one of Melbourne’s most prominent CBD restorations.

Cr Campbell said projects investing in heritage while adding new homes and economic activity were vital to Melbourne’s continued renewal.

“The restoration of the State Savings Bank building at 623 Collins Street shows how Melbourne can honour its proud architectural history while creating new opportunities for people to live and work in the heart of the CBD,” she said.

The development is expected to support around 2000 jobs during construction and generate about $800 million in economic activity for Victoria. Completion is anticipated in the fourth quarter of 2029.

---

Published at CBD News, March 23, 2026.