A PROPOSED multi-million dollar lakeside housing project at Lake Narracan has the potential to accommodate 1000 homes, according to a Narracan Lakes Lifestyle Precinct director.
Lodged with Latrobe City Council last week and awaiting approval, the NLLP is “ready to go” once council has committed to rezoning the area from farming to residential land.
NLLP director Manny Gelagotis said the project was of regional significance.
“I think the timing with all the uncertainty surrounding Latrobe City and Gippsland, the region needs a project of this capacity to cater for people looking to relocate,” Mr Gelagotis said.
Enveloping Lake Narracan, the precinct concept plans include “premium” residential allotments with the options of a convention centre, retirement village, caravan upgrades, rail trail improvements and a possible waterfront relocation of the Moe Golf Club rooms.
“The options are unlimited,” Mr Gelagotis said.
“There will be flow on benefits, if this gets off the ground, everyone will make money from it.”
This week, council received the planning reports, land use, servicing, integration and investigated economic considerations.
More than $7.5 million has been invested in acquiring the 95 acres surrounding Lake Narracan in 2008 as well as reports on planning, traffic management, drainage, sewage, cultural and heritage, flora and fauna studies.
“The whole estate could fit 4500 homes but we have cut it down by one third to ensure we are not trying to maximise the land site; we are conscious of maintaining the natural resources and it is critically important,” Mr Gelagotis said.