According to a news report on Channel 7 this evening the redevelopment of the Queen Victoria Market is still alive. Looks like they're going to extend Franklin Street through to connect with Dudley Street, then sell off the land on the other side and develop 2x50 storey towers which will be used to fund the redevelopment of the market. The car park is set to go with a park to replace it. Can't find anymore information at the moment..
There's movement regarding a number of imposing skyscrapers planned for Southbank. The Planing Minister has granted approval for 51-65 Clarke Street during April, allowing developer Newcity Development (One) Pty Ltd to proceed with the hulking 70 storey tower.