Further funding will also go to supporting aged care and disability housing.
As part of the package, more than 23,000 social housing dwelling will be upgraded across Victoria.
A number of new dwellings will also be built, providing more Victorians the security and stability of a home.
This investment is part of a state-wide $2.7 billion infrastructure investment and will prioritise works that can start in the coming weeks and months to help fast-track economic recovery.
New dwellings at Aboriginal Housing Victoria sites, upgrades to amenities in specialist disability accommodation and maintenance works at aged care facilities are among the projects that will begin right away.
This project will deliver safe and secure housing for more Victorians, while also giving the Victorian economy the boost it needs right now.