Large scale redevelopment of the city block bounded by Lonsdale, Swanston, La Trobe and Elizabeth Streets was studied in some detail during the 1960s and 1970s, being closely linked with work on the City Loop underground railway. Early work on the site commenced in 1971 when land on the south side of La Trobe Street was acquired, to enable the cut and cover construction of Museum Station (now known as Melbourne Central). With planning for the site being carried out by the Melbourne Underground Rail Loop Authority from 1980, the railway station opened in 1981, but protracted negotiations failed to find an anchor tenant for the development, resulting in the State Government of Victoria deciding in 1983 that a private developer should be sought.