Crown approved to build Melbourne's tallest tower

Casino giant Crown has been given the green light to build Melbourne's tallest building - a $1.75 billion, 90-storey hotel and apartments development.

Victorian Premier Daniel Andrews announced the planning approval at Crown Towers in Southbank today.

It will feature 388 hotel rooms, 708 residential apartments, a pedestrian skybridge and visitor attractions.

The project's expected to generate 3000 jobs during construction and 1000 ongoing jobs, once completed.

A start date has not been set but Crown estimates the work will take five to six years.

"This will be Melbourne's tallest building, and arguably it will be Australia's tallest building," Mr Andrews said.

"But it's not just about height though. The quality of this design outcome, particularly the public realm benefits, the benefits that will be accessible for all Victorians, really mark this out as a very special project."

As part of the development, the government has committed $100 million to public spaces, including upgrades to Queensbridge Square, Sandridge Bridge and Southbank Boulevard.

There will be no gambling facilities within the building.

The announcement comes a day after an Auditor-General report found Victorian Commission for Gambling and Liquor Regulation oversight of gambling and money laundering at Crown Casino was inadequate.

The VCGLR accepted the report and Mr Andrews said if it needed extra government support he would "only be to happy" to provide it.