The Wodonga businessman this week signed an agreement with Places Victoria to develop the remaining 10 hectares of the former railway corridor.

A cinema, hotel, conference centre, market hall, office block and residential units will be built over the next 10 to 15 years at an estimated $200 million.

It is a major undertaking for the 60-year-old whose first job was an apprentice baker and pastry cook in Yackandandah before making the switch to the building industry as a plasterer.

He employs 65 people in the areas of property development, construction and real estate and once attempted to redevelop the former Stanley Street pool land.

That area, which is still undeveloped, is located opposite Junction Place where the first stage of Mr Williams’ vision will be a road from Smythe Street leading to a carpark near the goods shed.

He hopes the first set of apartments on the corner of Smythe and South streets will start being built in early 2017 before attention turns to one of the big-ticket items, the cinema complex.

"It won't happen all at once," he said.

"But it is an exciting project and I can't wait to get started."

Asked whether there was genuine interest in major aspects such as a cinema and hotel, Mr Williams said: "For sure.

"It was part of the due diligence process to make sure it all stacked up.

"The risks have been minimised as much as we can and we know the things we have got in train are things that are going to happen."

Mr Williams will also use a section of the goods shed as a showroom for potential investors in his plans.

The master-plan for Junction Place has to be ticked off by the Places Victoria board and approved by Wodonga Council.

"Junction Place has made things in Wodonga a lot better than what they were," he said.

"But we are still missing out on a lot of things like cinemas, cafes and open space."