The design competition will be conducted in accordance with the Australian Institute of Architects (AIA) guidelines. The AIA has been consulted and endorses the competition.

Short-listed entrants will receive a honorarium to assist with costs associated with participation in the second stage of the competition.

The objectives of the competition are to:

• upgrade the station to its former glory, in the tradition of other great cities around the world, as a Victorian and international icon and a centrepiece of the Melbourne Central Business District (CBD);

• restore and protect the Administration Building and other heritage elements and to include adaptive re-use;

• improve all aspects of the transport function of the station and adjacent transport modes and cater for significant growth in transport patronage;

• better integrate the station with the surrounding precincts that have grown up around it including Federation Square, and provide better linkages between the CBD and the Yarra River;

• better utilise the land adjacent to rail and air space above rail on the western portion of the site;

• provide significant civic space while allowing for a distinctive and memorable architectural outcome with a mix of uses; and
  
  
• provide a value-for-money solution capable of utilising public and private funding sources.