Stage one of the project will include the construction of 50 three-bedroom and 25 two-bedroom apartments in five residential towers in thePeninsula.
Ms Giddings said the $85 million development at the Claremont Golf and Bowls Clubs site is one of the most significant residential developments in the area in recent times, and is a great sign of confidence in Tasmania’s economy.
“It will provide a boost to our construction industry, create hundreds of construction jobs and stimulate the property market,” she said.
"There have already been 11 expressions of interest from potential developers locally and nationally and the planning approval has now given them the green light.”
The expansion of the Claremont Golf Club as a part of the staged development, including a hotel and a marina, is also expected to transform the precinct.
Energy and resources minister Bryan Green said the government is currently undertaking the biggest planning reforms in Tasmania’s history, aimed to streamline the state’s planning laws and encourage further development.
"The government has already delivered a State-wide planning template, new residential building code and regional land use strategies. We are now also working on a new state-wide code for construction of villa units and town houses.
"This reform is a huge step forward and is being achieved in cooperation with local councils and their communities.
"Planning reform is a key priority of the government which is why we committed $6 million over four years to ensure planning laws keep pace with the needs of local communities and potential investors," he said.