The promenade has many cafes, restaurants, shops, upmarket hotels, offices, public art and modern apartments. The variety and spectacular city views make it a popular place for locals and visitors to drink, dine, stroll and watch the occasional street performer.
Southbank is an important cultural hub and home to:
- Melbourne Arts Centre
- Hamer Hall
- Melbourne Recital Centre
- National Gallery of Victoria
- Malthouse Theatre
- Australian Centre for Contemporary Art
- Victorian College of the Arts.
Significant and rapid residential development has occurred in Southbank and the population has skyrocketed. The vast majority of residents live in high-rise apartments, the tallest of which is the 300 metre tall Eureka Tower. The 92-level tower is one of the world's tallest solely residential buildings.
South Wharf
In May 2008 the Victorian Government created a new suburb called South Wharf located at the western end of Southbank. South Wharf is home to the Polly Woodside Maritime Museum and the Melbourne Exhibition Centre - informally known as Jeff's Shed after the Premier of Victoria in office at the time the centre was constructed.