Victoria's government never seems to miss a chance to spruik the potential of Fishermans Bend, a vast expanse of mostly industrial land next to Melbourne's CBD.

"Australia's largest urban renewal project" is the description used again and again.

It is 485 hectares that the government promises will be transformed to play "a key role in the further evolution of central Melbourne".

But many of those waiting for that evolution don't see many signs that it's happening.

"I can't think of any other precinct anywhere in the world that is two kilometres from the CBD of any major town that is as underdeveloped and under-resourced in terms of amenities as Fishermans Bend is," Guy Naselli, president of the Fishermans Bend Business Forum, said.

Since 2016 when Victoria's Labor government released

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