The City of Melbourne has unveiled a new vision for the Macaulay precinct, covering 90 hectares of land to the north-west of the central city.
On Tuesday Councillors will consider endorsing the 2020 Macaulay Draft Structure Plan Refresh after consultation with the community and businesses in 2019.
Lord Mayor Sally Capp said developing the precinct would create new jobs and help drive economic activity.
"Population forecasts show Macaulay could be home to 9,300 residents and 4,700 workers by 2036," the Lord Mayor said.
"Developing this precinct will require a huge range of skilled workers from tradespeople to architects and urban planners. It's expected to create thousands of jobs for our community over the life of the project.
"We also want to make sure this new inner-city neighbourhood is a welcoming home for the thousands of residents expected to move there in the coming years.
"The vision for Macaulay is a mid-rise precinct that is part of the broader North Melbourne and Kensington areas with a range of shops, services and jobs a short distance from homes.
"We need to plan now to deliver well connected streets that encourage walking and cycling and green space."
The draft structure plan would replace the 2012 Arden-Macaulay Structure Plan.
Chair of the Planning portfolio, Councillor Nicholas Reece, said the draft structure plan will provide a framework to guide development and investment in Macaulay.
"The Macaulay precinct is a unique, once in a generation opportunity and it's important we get the planning controls right to ensure this a highly liveable, sustainable and prosperous area of Melbourne," Cr Reece said.
"This refreshed structure plan will help provide clarity on the types of developments we're looking for in this area and give certainty to current and future residents.
"We have looked around the world to understand what encapsulates a great urban redevelopment project, whether it's the Meatpacking District in New York, Hammarby Sjöstad in Stockholm or False Creek South in Vancouver. We have brought all this forward thinking to bear in the development of the Macaulay precinct vision.
"This is a part of Melbourne that has a story to tell, so we want to maintain the richness and character of the industrial heritage and urban built form while also accommodating major new development activity.
Cr Reece said the draft vision outlines a balanced mix of homes, well-connected streets that encourage walking and cycling and minimise car ownership, and more space for public parks.
"The plan recommends delivering new community and recreation facilities in Macaulay over the next 20 years to keep pace with population growth. There's also an opportunity to deliver affordable housing in this area, including on Council owned land."
"We have gone the extra mile in considering the future needs of the community and planning for these to be within walking distance to residential areas," Cr Reece said.
If endorsed by Councillors, the 2020 Macaulay Draft Structure Plan Refresh will be available for community feedback from Thursday 9 July 2020.
To view the draft structure plan, or to provide feedback, visit the Participate Melbourne website.
