[6] The main tower and complex was completed in 1991, designed by Japanese architect Kisho Kurokawa and the Kumagai Gumi architecture firm at a cost of $1.2 billion.

Today the centre features a gross leasable area of 55,100 square metres (593,000 sq ft) spread over six floors.

[2] The 20 storey glass conical structure over the Coop's Shot Tower is the largest of its kind in the world [5] and over 8.6 million passengers pass through the Melbourne Central station every year.

Originally termed the 'Victoria Project',[9] large scale redevelopment of the city block bounded by Lonsdale, Swanston, La Trobe and Elizabeth Streets was studied in some detail during the 1960s and 1970s, being closely linked with work on the City Loop Early work on the site commenced in 1971 when land on the south side of La Trobe Street was acquired, to enable the cut and cover construction of Museum Station (now known as Melbourne Central).

[10] The $1.2 billion contract was signed soon after but without Essington Limited, who were removed by the State Government after a number of directors were linked to the Nugan Hand Bank.

[11] It was also at this time that Kisho Kurokawa was brought on board as architect, with Hassell and Bates, Smart & McCutcheon compensated by becoming the joint documenters of the scheme.

This included Australia's largest inner-city carpark with space for over 1,600 cars, automatic reduction of fees for parking and childcare based on the amount of money spent in the shopping centre, and a three-storey glass butterfly enclosure and waterfall.

[15]At the same time, Daimaru closed their department store in 2002, paying $30 million for their five years of remaining rent in return for abandoning their lease commitment which ended in 2016.

[17] With half the total retail space empty due to the loss of Daimaru, GPT announced a $195 million plan to renovate the centre in April 2002.

[15] Eventually costing $260 million, the renovated centre with a postmodern design by architects Ashton Raggatt McDougall and ARM Architecture who described it as a "tired, old building", inappropriate for Melbourne.

[18] It aimed to open the complex to more natural light, new street-front shopping strips, and bubble-like additions to the footbridge across Little Lonsdale Street, but largely compromised the design of Kurokawa.

At the time of its early planning the prevailing attitude from government planners was that the traditional layout of the central city with small laneways and buildings was old-fashioned and not suited to a modern metropolis.

For example, the Victorian Chamber of Commerce, National Trust of Australia and heritage preservation groups opposed the link bridges between Melbourne Central and the Myer department store on the grounds that it would discourage people from walking at street level and reduce patronage to smaller businesses.

The cone is the largest of its kind in the world and was built in reference to the large dome of the adjacent State Library of Victoria.

[5][34] A vertical garden was installed on the side of the Coop's Shot Tower as part of the Melbourne International Design Festival in July 2008.

Pioneered by internationally renowned French artist and scientist, Patrick Blanc, the garden had no soil and was attached to the wall using PVC plastic.

[37] These are: Hoyts Cinema, the Melbourne Central Lion Hotel, entertainment venues and various restaurants and bars make up Level 3 of the centre.