A new multi-million dollar housing estate has been given the green light for Timboon to help fill critical housing shortages in the south-west.
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Corangamite Shire has approved a 10-lot subdivision on Neal Street, along the western edge of Timboon.
Director of Timboon Developments Glenn McNeil is behind the development and hopes to get works underway before Christmas this year to begin building in the first quarter of 2022.
"I think it's a bit of a game changer for the town," he said.
"There isn't much new stock in Timboon; most properties date back to the 70s and people are looking for modern amenities close to all the services Timboon has to offer.
"We certainly don't want to do anything that will detract from the general character of the area, that's why we've gone to fairly great lengths with the design to have minimal impact from Neal Street."
READ MORE: Proposed new housing estate draws interest
They will be 10 townhouses ranging from three and four bedrooms.
The proposal is the first stage of a wider plan for Neal Street.
Selling agent Peter Worden, director of Nutrien Harcourts, has already seen a number of expressions of interest in the properties.
Mr McNeil said progress was already underway on a second subdivision in Timboon.
"We're excited for the potential in Timboon," he said.
Corangamite Shire councillor Kate Makin said it will address the region's 'chronic' housing shortage.
"The positioning Timboon and Simpson Strategy 2020 identifies that Timboon is a key lifestyle destination, but also recognises the importance of encouraging a range of residential development to ensure there is diversity in housing types to cater for residents and to support the local economy," she said.
"The development provides an acceptable response to the planning strategies.
"I have no problem supporting this."
The development has been approved, with a number of conditions to be met before works start.
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