The scaffolded hole that used to house the Greek community centre on Lonsdale street now has a new visitor.

Earlier this week, the main crane that will be used to slowly build the new 15-storey Cultural Centre was installed, signalling the next stage of construction.

Within the next few weeks the project will take on a different form with the transformation of the current excavation site into the future new Cultural Centre.

The new centre will also include a theatre, an exhibition space, lecture halls and a general meeting area. Along the bottom, new shops will grace the corner site, with rumours saying the small businesses will be Greek themed. The centre will also boast a roof top and an exceptional view of the city.

There will be eight levels of offices obtainable for lease, from which all funds will pass back into the community.

The new building of the Greek Orthodox Community of Melbourne and Victoria, that will also house the Cultural Centre, is planned to be completed by the end of 2014.