The State Government seems to have recently finalised that the location of the first new high school in Fishermans Bend will be at 477 Graham Street (close to or on the corner of Plummer Street), which is immediately adjacent to Murphy’s Reserve on Williamstown Road.
The announcement seems to have been very low key with the only reports of it I can find being on Southbank Local News and the Herald Sun (paywall, requires a subscription to read). The Victorian Schools Building Authority site has limited information about the project too.
If we get more information about it I'll let you know.