There are heaps of good kindies round there. St Kilda Balaclava Kindergarten is beautiful - to me - but it depends what you like in a kindy. I'm very into free play and natural materials. If you prefer structured play and plastic fantastic, there are other places you might like better, but definitely plenty to choose from.
Lillian Cannam in Albert Park is amazing, they have an incredible program.
Lady Foster in Port Melbourne
Poets Grove in St Kilda - it's a children's hub, and includes child care and kindergarten. It is a wonderful place.
The Melbourne Girls Grammar ELC is very nice too.

But there's heaps more, and that area has a very high standard, so you should have no trouble finding somewhere good.
Best of luck!