Labor throws $30m support behind landmark Yarra River project

A major riverside project touted as a major reimagining of the heart of Melbourne will receive a $20m kickstart if Labor wins the election.

Labor is promising $20m to kickstart work on the Greenline project.

Federal Labor is promising $20m to kickstart work on the Greenline project that will transform the north bank of the Yarra River into a vibrant 4km promenade.

The Herald Sun can reveal an Albanese government would deliver the major financial injection into Melbourne Lord Mayor Sally Capp’s signature $300m project.

It will create a 6m wide promenade between Birrarung Marr and the Bolte Bridge, including major landscaping efforts and new spots for hospitality, entertainment and cultural venues.

Ms Capp has been seeking $100m contributions from the state and federal governments.

On Monday, the federal opposition will offer $20m to finalise planning work and begin construction on the Greenline.

Opposition cities and urban infrastructure spokesman Andrew Giles said it was a “big idea, reimagining the heart of our city”.

“The Greenline will open up central Melbourne and make its attractions more accessible to more Melburnians,” he told the Herald Sun.

“An Albanese Labor government is committed to realising the potential of our cities through projects like the Greenline.”

Ms Capp said she was “thrilled to be partnering with other levels of government to transform the Yarra’s north bank into a must-see destination”.

“Greenline will make Melbourne even more marvellous and attract visitors from around the world to our city,” she said.

The City of Melbourne expects it will create up to 6400 ongoing jobs and grow the city’s economy by up to $1.2bn by 2042, including by luring up to 1.1 million extra visitors to Melbourne.

A map of the Greenline trail stretching along the Yarra River.

Construction will involve several separate works, including improvements to Flinders Walk, upgrades to Banana Alley vaults, and a new park at the end of the Salt Water Wharf precinct.

Expressions of interest to be involved in building the project — inspired by New York’s Highline — opened earlier this year.

Ms Capp has compared its potential to the creation of Southbank Promenade in 1990 and Federation Square in 2002, arguing it will encourage the development of 4000 dwellings and open up to 110,000 square metres of commercial floor space.

Opposition infrastructure spokeswoman Catherine King said the investment was part of Labor’s plan to work with councils and state governments on “transformative projects”.

“Victorians are sick of the Morrison government which treats them like the citizens of a foreign country,” she said.