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Melbourne's Federation Square will receive the largest upgrade since its creation following a review that has called for community and cultural activities to be "front and centre" in the precinct.

To be funded by the Victorian Government's $2.7 billion Building Works stimulus program, the $20 million upgrade aims to improve the experience for visitors.

With Federation Square attracting around 10 million visitors a year, more than 1,800 people contributed to the review, which said the upgrade should create a new immersive regional experience centre to promote the state's best food and wine, music and culture.

Initial changes that will be made include: greater recognition and celebration of First Peoples cultures; creating a more captivating experience; embracing the Yarra River and; connecting with nearby arts and sports precincts.

A strengthened focus on First Peoples culture, art, heritage and continuing connection to the site must be core to the square's future, the review found.

Stakeholders also wanted a "refreshed retail and hospitality offering" that reflected Melbourne and could create a unique experience for visitors.

The Victoria Government also agreed to ensure any future physical changes to ‘Fed Square” "must aspire to match the quality of the original", which would be enabled in part by a design advisory board.

The review found the precinct was "a much-loved” feature in the city but was "under increasing financial pressure to meet significant asset maintenance and renewal costs".

The governance and business model of the square requires it to be principally self-funded and the review found this had led to commercial activities being prioritised over community, cultural or artistic activities.

One recommendation was for improvements to be made to how the square was governed and for a "more sustainable business and operating mode" to be established.

The review also advised that “many stakeholders reported that Federation Square's vibrancy is decreasing while the commercial activity is increasing.

"Stakeholders saw this as a risk to the long-term value of Federation Square as a genuine community asset and a place for everyone."

Image: Federation Square attracts some 10 million visitors a year

Melbourne's Federation Square set for $20 million facelift

Melbourne's Federation Square will receive the largest upgrade since its creation following a review that has called for community and cultural activities to be "front and centre" in the precinct.

To be funded by the Victorian Government's $2.7 billion Building Works stimulus program , the $20 million upgrade aims to improve the experience for visitors.

With Federation Square attracting around 10 million visitors a year, more than 1,800 people contributed to the review, which said the upgrade should create a new immersive regional experience centre to promote the state's best food and wine, music and culture.

Initial changes that will be made include: greater recognition and celebration of First Peoples cultures; creating a more captivating experience; embracing the Yarra River and; connecting with nearby arts and sports precincts.

A strengthened focus on First Peoples culture, art, heritage and continuing connection to the site must be core to the square's future, the review found.

Stakeholders also wanted a "refreshed retail and hospitality offering" that reflected Melbourne and could create a unique experience for visitors.

The Victoria Government also agreed to ensure any future physical changes to ‘Fed Square” "must aspire to match the quality of the original", which would be enabled in part by a design advisory board.

The review found the precinct was "a much-loved” feature in the city but was "under increasing financial pressure to meet significant asset maintenance and renewal costs".

The governance and business model of the square requires it to be principally self-funded and the review found this had led to commercial activities being prioritised over community, cultural or artistic activities.

One recommendation was for improvements to be made to how the square was governed and for a "more sustainable business and operating mode" to be established.

The review also advised that “many stakeholders reported that Federation Square's vibrancy is decreasing while the commercial activity is increasing.

"Stakeholders saw this as a risk to the long-term value of Federation Square as a genuine community asset and a place for everyone."

Image: Federation Square attracts some 10 million visitors a year

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