CWIC forms an integral part of the University redevelopment on the waterfront and will provide training in different areas of the construction industry. It is intended to anticipate future needs with on-going or planned projects for the next decade. The centre will have a particular impact on various projects planned for the waterfront: a digital indoor arena, shops and restaurants, offices for start-ups in a container village, etc.
The State Government of Victoria had announced its intention to promote a model development on the site between the port, the Yarra River and the bay, housing 80,000 people by 2050. The proposal had attracted 26 projects by developers at the start of this year, and the prospect of a forest of skyscrapers stirred up debate. The number and height of the tower-blocks will be regulated, and the inclusion of low-cost housing will be a condition for acceptance. The new district must also be compatible with port needs.
The federal investment will be used mainly to turn the 19th century warehouse into a museum and visitor center. Another part of the site is set to be developed to stage events and concerts, while Pier 1 could host festvals and activities all year round, along with new Freedom Trail tours.