Paynesville is about to step up a notch with an ambitious new commercial and residential development planned for the CBD precinct.
A four level mixed-use apartment complex is set to be built over two house blocks on Devon Road, behind the main shopping strip.
Named Toonalook Terraces, which recognises the original Indigenous name of Paynesville, the building will house one, two, three and four-bedroom apartments, as well as provide areas for retail and hospitality space.