A new plan could see one of the biggest residential developments in Terang in decades with up to 150 house blocks developed.
Corangamite Shire has released a draft development plan which is made up of nine parcels of land in McCrae Street - off the Terang-Mortlake Road.
It's estimated the 18 hectares of land has the potential to create 150 house blocks on the eastern side of the town.
Corangamite Shire deputy mayor and Central Ward councillor Geraldine Conheady said the nine parcels of residential land on McCrae Street could support new housing growth in the medium to long term for the town.
"Terang is the second-largest town in the shire but growth has been subdued over the past five years due to lack of available residential land," she said.
"Census information shows the town's population fell slightly between 2016-2021, by 0.4 per cent."
Cr Conheady said additional housing would boost the town's economy in attracting key workers, with the increased population driving demand for local goods and services.
The council has met with Terang landowners and the draft plan will consider current infrastructure, the transport network and other services.
McCrae Street already has water, electricity and telecommunications and internet connections.
The plan notes Terang is one of the oldest towns in Victoria with heritage buildings dating back to the late 1800s and early 1900s and the population of 2254 has a median age of 49.
It said there was existing housing on the site but there was general support from landowners for the plan.
The plan also included creating safe public spaces with walking and cycling opportunities to the wetland and town centre.
Cr Conheady said along with further landowner engagement the council encouraged the wider community to look at the draft plan and provide feedback.
"Community opinion is vital to the strategic planning process and council will work with residents to ensure their concerns and aspirations are reflected in the final plan," she said.
To view the plan visit corangamite.vic.gov.au/TerangPlan and hard copies are available at the Civic Centre in Camperdown.
Residents have until Friday, October 20 to provide feedback.
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