The Victorian government has provided $400,000 in funding to build the new Docklands Library and Community Centre, which has the potential to boost the appeal of residential property in the area.
The project is funded through the $17.2 million Living Libraries Infrastructure program, a government initiative that was created to improve the infrastructure and facilities in Victorian public libraries.
Minister for local government Jeanette Powell is pleased that the project is taking place in a "vibrant, growing part of Melbourne", with construction expected to start in July.
The announcement of the new library comes as Docklands is set for major urban renewals, becoming a mixed-use community for people to live and work, with plans for sustainable building and design.
The Docklands has taken a huge initiative in sustainable development, with the creation of the Melbourne Docklands Ecologically Sustainable Design (ESD) guide, which provides clear expectations for developers. The standards set out in the guide include using wind and solar power, reusing storm and grey water and recycling building material - such as PVC construction waste in the project.
Lord mayor Robert Doyle acknowledged the government for the Living Libraries Infrastructure program and its contribution to the Docklands Library and Community Centre.
"We are pleased to be bringing Melbourne’s unique sense of community to Docklands through imaginative, well-designed places for this ever-changing precinct," Mr Doyle said.
The building is expected to be completed in October 2013.