The state-of-the-art clubhouse will cost $11.75m and has a vocational training facility for the marine industry.
Part of the building will be devoted to the Club's training organisation, including an auditorium, seating 80, with the latest audio-visual facilities.
SYC runs a schools program teaching sailing and on-water safety plus a learn-to-sail program for people of all ages.
The new clubhouse will have a 350-seat function centre, a 75-seat a la carte restaurant, a members' bar and public areas.
The Club's 2000-plus membership is currently open, providing opportunities for all boaters, including yacht racing, recreational boating and many social activities.
SYC's upgraded hardstand facility has won environmental awards and the new clubhouse will follow suit with many environmental and water retention initiatives.
SYC CEO, Richard Hewett, said that the new clubhouse was a great step forward: "This clubhouse is the second phase of our plan for the upgrading of the Club and has been a long time in planning.
"With this new clubhouse we will ensure that members and the community will have top-class facilities for many decades to come," he said.
SYC has a modern marina for 380 boats from eight to 25m.
For more info, phone (03) 9598 7444, or visit www.syc.com.au