The Queen Victoria Market precinct is set to get its own three-storey community library as early as 2023. It’ll form part of the $450 million Munro community hub – on the corner of Queen and Therry streets – which is owned by the City of Melbourne.

Set to sprawl across more than 3000 square metres, the plans for the multilevel library include a rooftop terrace for sunny outdoor reading and other activities, plus meeting rooms, an auditorium, a commercial kitchen and more – to serve the burgeoning area.

“We’re expecting 24,000 new residents in the area by 2040, so we want to provide additional community facilities to meet the needs of a growing population,” lord mayor Sally Cap said in a statement.

“The Munro community hub location will make it easier for local residents to access library services, while also driving visitation to the precinct and encouraging creativity and innovation.”

The City of Melbourne acquired the site in 2014. The Munro project incorporates Queen Victoria Market’s renewal, as well as retail outlets, a boutique hotel, residential apartments and a community hub.

The Munro library could open by early 2023.