A new six tower project in Melbourne's Southbank has been approved and will deliver more than A$1 billion in construction and jobs in the inner city.

The latest approval brings the total investment for major projects in Melbourne's central business district (CBD) approved in 2015 to more than A$5 billion, a record year.

The approval for the Kavanagh Park project includes a commercial tower with almost 60,000 square metres of office space and a hotel and serviced apartment tower which will have 687 rooms.

Four apartment towers with 2610 apartments and a childcare centre will also built on the site, which is currently used as a car park.

There will also be a supermarket, shops and a food court with hawker-style stalls, taking total retail space to more than 10,000 square metres.

More than 1000 bicycle spaces have been included as well as 894 car parks and the site is close to several tram lines. Open space will include laneways, a 2770 square-metre park and a large public square.

The developer changed original plans, submitted earlier this year, to comply with the Victorian Government's interim CBD controls introduced in June. The controls are ensuring that inner-city developments are liveable and healthy homes for Victorian residents.

Design changes included widening setbacks and changing building angles to minimise overshadowing. The six towers will range from 145 metres to 226 metres high with rooftop gardens.

The outcome allows for height and density while maintaining large space between buildings, minimal overshadowing and plenty of open space.The project demonstrates how new CBD controls are ensuring that developments provide liveable and healthy spaces and communities for people to call home.

The application was the largest approved this year and has support from the City of Melbourne and Victoria's Government Architect.

In 2015 25 inner-city towers were approved, which included almost 10,000 apartments and about 2400 new hotel rooms, plus more office and retail space.

There are currently another 50 applications under assessment with the Department of Planning and Melbourne's development industry is expected to enjoy an equally strong 2016.