FRESH plans for an $88 million golf resort at Creswick will go on public display later this month.
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The new plans for the Forest Resort include a five-star hotel, conference centre, spa resort, and an international-standard 18-hole golf course.
The golf course has been designed by renowned course architect Tony Cashmore, whose most recent works include The Dunes on the Mornington Peninsula and 13th Beach Resort at Barwon Heads.
Mr Cashmore likened the Creswick course to Augusta, home of the USA Masters Golf Tournament.
"The Forest Resort can be Australia's answer to the famous Augusta course in Georgia, USA," Mr Cashmore said, citing similarities between the natural environs and crafted waterways of both locations.
Once the development is completed, annual club memberships could be anywhere between $10,000 and $15,000, according to the resort's managing director Jim Walsh.
Mr Walsh said the membership fees would reflect the international standard of the course.
He said discussions were underway with three international hotel chains and an announcement was expected soon on who would operate the five-star hotel.
The project _ the biggest ever seen in the Hepburn Shire _ will incorporate the existing Creswick Golf Course, which is set in native forest off the Midland Highway on the Ballarat side of Creswick.
It will cover 80ha, 20 of which will be leased long-term from the State Government.
More than 160 residential blocks have been included, many with views of the water and fairways.
A public launch will be held on Sunday, March 16, when a second stage of residential blocks, starting at $105,000 will be released for sale.
All seven allotments released in stage one have been sold and the first house slab is expected to be laid on Wednesday.
Mr Walsh said house-and-land packages, investment condominiums and strata title hotel rooms were also available for sale.
Creswick Golf Club currently has 500 members who will not be required to pay newly structured membership fees. Instead, their current memberships will incur annual fee increases in line with the Consumer Price Index.
Mr Walsh said existing members were "very comfortable" with the development.
"We've spent around $180,000 on the club house to date, and Tony Cashmore is starting to articulate to them the magnificent golf course they will ultimately have," Mr Walsh said.
During development, it is anticipated that all 18 holes will remain open, but Mr Walsh said if closures were required, it would never be more than three at a time.
The Creswick development is one of two major golf resort projects underway in the region.
The Lake Federation resort is an $800 million development for Alfredton.
Mr Walsh said he believed the courses were catering to different markets and both could succeed.
