Company Montarosa has lodged a permit with Corangamite Shire for the development in the Great Ocean Road town.

The proposal includes a 20-room eco-lodge, 20 cabins, two restaurants, reception, meeting areas and a shop. It also plans to construct walking and cycling trails, boardwalks, picnic areas, a playground and a jetty pontoon to allow paddle board, kayak and boat tours.

The 49-hectare site is bordered on three sides by the Gellibrand River and has frontage to Old Coach Road.

Developers said the resort would expand the accommodation options along the Shipwreck Coast and provide economic, social and environmental benefits.

“The Shipwreck Coast Master Plan identifies a number of improvements to be made within the Princetown Precinct... including a private sector tourism development, eco-adventure, kayak and canoe hire along the Gellibrand River, boardwalks and food and beverage facilities,” its planning application says.

“The proposed integrated eco-tourism facility would deliver these improvements and provide a range of benefits in the way of employment opportunities during construction and operation, social benefits through improvements in public infrastructure, recreational opportunities and increased awareness of cultural values. Environmental benefits would be facilitated via a comprehensive OEMP (Operational Environment Management Plan) to be prepared for the proposed facility and subject site during the construction phase.

“The proposed facility is also expected to provide long-term economic benefits to accommodation, food, local produce and other service businesses within Princetown and the Corangamite Shire as a whole through direct and indirect spending in the region by Montarosa, visitors and staff.”

Developers said they had undertaken extensive community consultation on the project.

“Feedback received to date spans the appropriateness of a tourism facility in this location, the design and siting of built form, and the impacts such a development might have on the township of Princetown. All feedback has been logged and addressed where able and appropriate,” its planning permit application says.

Nearby residents told The Standard earlier this year that environmental overlays and the risk of flooding were potential issues.

The project received a $650,000 grant from the federal government’s Tourism Demand Driver Infrastructure Program earlier this year.