The centre in Westmeadows, 17km north of the Melbourne CBD, will include a 90-bed aged care facility as well as 110 new social housing homes and 34 independent living units for older residents in a co-located village.
The site will also be home to more than 200 new private homes for sale, plus parklands and community facilities.
The project is a joint venture between the VIC and TAS-based Not For Profit, leading residential developer Frasers and the Victorian State Government.
Construction began in early November and the project is expected to be completed by late 2017.
Pictured (from left to right): Baptcare acting chief executive Brent Dankesreither, Parliamentary Secretary for Health and Carers, Mary-Anne Thomas MP and Federal Member for Calwell, Maria Vamvakinou MP.