The City of Melbourne has reported a $589,000 underlying surplus for the 2024–25 financial year, its first since 2019, marking what the council has described as a “turnaround story” following consecutive deficits during and after the COVID-19 period.
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The long-awaited new North Melbourne Community Centre has emerged as a major winner in the City of Melbourne’s 2025–26 draft budget, with $40 million earmarked over the next four years to deliver what will become a vital civic hub for the fast-growing Macaulay precinct.
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Commonwealth Bank Errol St will be closing its doors on Friday, November 15, sparking concerns for local businesses and residents.
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The Victorian Government has announced $44.6 million to fund a new “green spine” linking the CBD, Carlton, Parkville and the Queen Victoria Market through a series of RMIT University-led capital works projects.
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Arts practitioners and some sole traders are again left without support as lockdown restrictions in greater Melbourne eased and the Victorian Government announced additional support for businesses that continue to be affected.
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Melbourne has recorded the fastest-growing night-time economy of any Australian capital, with new data showing the city added almost 3000 jobs and nearly 180 venues in just one year.
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Melbourne’s CBD retail vacancy rate has fallen for a fourth consecutive year, with Fitzroys’ latest Walk the CBD report showing the city’s shopfront recovery continuing to gather pace.
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Melbourne’s CBD economy ended 2025 on a high, with December recording the biggest spending month ever captured in the City of Melbourne’s economic data, according to the council’s latest Economy Snapshot.
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Queen Victoria Market has recorded its strongest visitation in years, with a new annual report showing the historic precinct continues to draw growing crowds even as major renewal works reshape the site.
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Melbourne’s CBD retail market is continuing its strong post-pandemic resurgence, with global fashion brand Lacoste the latest to secure a major flagship store in the heart of the city.
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