an artist s impression of new site like
in late 2012 sold chinese developer jinshan investment group $11.2 million. new owners revealed plans major 30-storey w hotel development replacing theatre in mid 2013, worth $180 million. these plans generated considerable opposition, melbourne s music community. surprise opposition met developers council new plans led original plans downgraded smaller 7-storey hotel. palace closed in april 2014.
the fight save palace went vcat in 2016. however, after many months of deliberation, decision made allow demolition , redevelopment works go ahead. decision passionately appealed unsuccessful. of december 2016, no works have taken place yet.
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