A planning permit for a multi-level commercial and residential development has been approved for Franklin Street, Traralgon.
Currently the site of the former Traralgon Early Learning Centre, the block of land was sold by Latrobe City Council to Latrobe Regional Development Group.
Latrobe Regional Development Group director Leo Di Fabrizio told The Express he hoped his $15 million investment would be of major economic benefit for the region.
“This will be the first mixed use multi-level commercial and residential development in Latrobe City,” Mr Di Fabrizio said.
While the exact sale price of the land is unknown, council previously rejected an offer of $925,000 for the site.
In 2010, council purchased a building on Mapleson Drive to relocate the child care service and needed the sale of the Franklin Street site to pay for a remaining $1.2 million deficit.
Traralgon Community Development Association president Axella Johannesson welcomed the plan, which would sit on the fringe of Traralgon’s central business district.
“Personally, I think it is a good thing for Traralgon, I quite like it actually on the edge of the CBD,” Ms Johannesson said.
“It’s modern and it’s stylish and younger people on a good wage might want to live within walking distance to all the restaurants and everything.
“I’m happy to see buildings like that on the edge of CBD as long as they don’t interfere with established housing.”
