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By tram: 

Tram Routes: 3, 3a, 5, 6, 16, 64, 67, 72. 
Tram Stop #1: Melbourne University. 
Directions: Walk east from Melbourne University to Lygon Street (300 metres)
Tram Route: 1, 8. 
Tram Stop #112: Corner Elgin St/Lygon St 
Directions: Walk south/toward city along Lygon Street (100 metres)

By train: 

Melbourne Central Station (then a tram ride as per above)

By bus: 

The following buses stop at the corner of Lygon and Elgin Street, Carlton 
200, 201, 202, 203, 205, 207

Is there parking available?

Free 2 hour parking is available in the Lygon Court Car Park (accessible from Drummond St, Carlton). Simply present your Nova ticket when exiting. $3 hourly rate thereafter.Alternately, there is non-discounted parking available near the corner of Elgin & Lygon streets behind Jimmy Watson's wine bar. Other paid parking is located behind the Clocktower complex, accessible from Drummond Street between Faraday and Grattan streets.
Metered street parking is plentiful.