RMIT University and Scape (part of The Living Company) have announced one of the most significant investments in Melbourne, committing more than $270 million combined to establish the State Library Exchange.
Positioned directly above the new State Library train station, the flagship development will leverage the connectivity delivered through the Victorian government’s Metro Tunnel investment, bringing together learning, teaching, research, industry engagement and student accommodation in one purpose-built space.
The agreement represents one of the largest commercial lease agreements in the Melbourne CBD in recent years.
It will reinforce the gateway to RMIT’s education precinct while also contributing significantly to the city’s student housing supply, with 46 levels of dedicated student accommodation set to become available from 2029.
RMIT will lease the first nine levels of the building, creating modern, flexible spaces designed to support hands-on learning and collaboration.
The spaces will enable students to work with industry in real-life settings, build professional connections, and gain work-ready experience before graduating.
The project follows the successful Franklin Street collaboration between RMIT and Scape, where students enrolled in RMIT’s University Pathways program currently live and learn under the one roof.
The State Library Exchange is expected to build on that model at a much larger scale, combining education infrastructure with residential capacity in the heart of the city.
The launch marks a major milestone for RMIT’s City campus and is expected to deliver a substantial economic boost to Melbourne, driving jobs, investment and long-term growth across the CBD, while strengthening the city’s position as a global education leader for decades to come.
The investment also supports RMIT’s Living Places Plan, providing the infrastructure needed to upgrade and enhance the City campus over time.
RMIT Property Executive Director Seamus McCartney described the scale of the commitment, stating: “This is a city-shaping commitment and one of RMIT’s biggest long-term investments in Melbourne.”
Scape by The Living Company CEO Anouk Darling said the development reflected the strength of the partnership between the two organisations and its importance to the city’s future as a student destination.
“Partnerships like this one are built on a shared a vision for creating places where students can thrive, and this development reflects the power of collaboration and the importance of meaningful relationships in supporting Melbourne as a world-leading student city,” said Darling.
RMIT Vice-Chancellor Professor Alec Cameron said the development would strengthen the university’s connection to one of the city’s most important civic and cultural precincts, positioning students, researchers and industry partners to collaborate more closely than ever before in the centre of Melbourne.
Minister for Public Transport Vicki Ward welcomed the project, noting that it made effective use of the new Metro Tunnel infrastructure to bring together learning, teaching, research, collaboration and accommodation within a single purpose-built space, further cementing Melbourne’s reputation as a leading destination for education and innovation.
Construction and delivery timelines for the State Library Exchange are expected to be confirmed as the project progresses, with the first stage of student accommodation slated to open in 2029.
The development is set to become a defining addition to Melbourne’s education and transport landscape, linking directly into the Metro Tunnel network and Swanston Street’s tram corridor at what planners describe as one of the busiest transit points in the city.
