James Packer’s Crown Resorts has received the greenlight to proceed with the development of a 90-storey hotel and apartment tower adjacent to Crown Melbourne.

The Australian casino giant will develop the new hotel tower, called One Queensbridge, in partnership with the Schiavello Group. The project will cost about AUD1.75 billion (USD821.84 million), according to the Sydney Morning Herald.

Victorian planning minister Richard Wynne, who approved the project, said One Queensbridge “was project of state significance,” and exempted it from strict new central city planning controls. In addition, Crown Resorts and its partner have also committed to invest up to AUS100 million to improve tourism and public infrastructure in the areas adjacent to the project.

Once completed, the hotel tower will be the tallest building in Melbourne, standing at 323 meters. Currently, the tallest building in the coastal capital of Victoria is the Eureka Tower, which stands at 297.3 meters.