The University of Melbourne has purchased land at Fishermans Bend to establish a new campus and expand the Melbourne School of Engineering at the heart of Australia's new precinct for engineering and design.

Set to open in the early 2020s, the new campus will enable engineering and IT students and academics to connect and collaborate with leading local and international organisations, across the transport, energy, manufacturing, water, food, mining, defence and infrastructure sectors. With increased partnerships between education and industry we will be able to reverse the brain drain by keeping our brightest minds right here in Victoria and attracting the best talent from around the world.

Fishermans Bend will consist of five precincts across two municipalities – the City of Melbourne and the City of Port Phillip – and connect Melbourne's CBD to the bay. It is expected that by 2050, it will be home to approximately 80,000 residents and provide employment for up to 80,000 people.

Target for 2050 includes:

-80% of trips are made via sustainable transport

-90% of school related trips are made via sustainable transport

-A walkability score of 90% is achieved from homes and workplaces

-Fishermans Bend is a diverse community, including a mix of income, age, education levels and backgrounds

-People can access public open space within 200 metres of their home

Capital Alliance has amended a permit for a site it purchased in Melbourne's Fishermans Bend and will include the country's first AC Hotels by Marriott upmarket leisure brand of hotel in the urban regeneration precinct.

The private developer last week received an amended permit for the 199-201 Normanby Road site it purchased with scheme in place last year and in the same week signed an operating agreement with US-based Marriott International to bring the AC Hotels brand to Australia.

"It's really exciting, new to Fishermans Bend and we like to think this is what the precinct needs," Capital Alliance founder and chief executive Mohan Du told The Australian Financial Review on Monday.

​​South Melbourne Primary School is a new state-of-the-art Prep to Year 6 primary school located on Ferrars Street. The school opened in 2018.

It is the first vertical government school in Victoria, and will accommodate more than 525 students.

Architects have created space and facilities that the community can share so that the school is fully embedded in neighbourhood life.

The school won ‘Future Project of the Year’ at the 2016 World Architecture Festival Awards held in Berlin

The 8000 square metre Montague Park is equivalent to two and half times the size of Melbourne’s City Square and is diagonally opposite the new South Melbourne Ferrars Street primary school under construction.

The new park is a key part of the Ferrars Street Education and Community Precinct, a catalyst project for Fishermans Bend that provides more public space, community services and facilities for the growing community.