The tributes follow the 91 year-old's death on December 22 at Beechworth, where he had lived with wife Lyn since 2012.

Mr Colquhoun was involved in many projects that reshaped Albury.

They included building the Lavington Coles retail hub, converting a CBD woolstore for the Australian Tax Office and redeveloping Young Street land for a Bunnings hardware that has since been replaced by retailers Amart Furniture and Harris Farms.

The Bunnings deal was a collaboration with Wodonga hotelier Vyv Weatherall, who died in 2015.

His son Tom Weatherall, who has known the Colquhouns from infancy, when he lived 60 metres away in Albury, lauded Mr Colquhoun as a "real dynamo" with great acumen.

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"He was a person who always saw the positive in any opportunity, that's what made him very successful," Mr Weatherall said.

"He didn't have airs and graces.

"If you wanted to talk to John Colquhoun, John Colquhoun would talk to you and he would be very generous with his time.

"In business terms I have a huge amount of admiration for John Colquhoun and his family.

"He was a great dealmaker, it was just his personality, he was born for it."

Born in 1929, the third of six children, Mr Colquhoun was the son of Albury real estate agent Les Colquhoun and he followed his father into that arena after initially being employed by a Sydney property seller.

He and brother Paul joined their father's firm in 1958, prompting it to be renamed LJ Colquhoun and Sons.

The siblings dissolved their partnership in 1982, but John Colquhoun continued under the LJ Colquhoun and Sons banner until 1999 when he left to focus fully on project development.

Mr Colquhoun wed Lyn Ramsden in 1958 at Albury's St Matthew's Church and they had five sons, Andrew, James, Tim, Rob and Campbell.

They lived for more than 40 years at a large Lavington property at the eastern end of Union Road.

Nine of its 13 hectares was sold for construction of the Hume Highway which cut across it and the remainder was later subdivided.

Mrs Colquhoun then chose Beechworth for their abode , but son Tim said Mr Colquhoun never lost interest in business possibilities.

"He had the developer's eye where he would see land or see a building and think that could be something else," Tim said.

He added his father had great faith in Albury.

"He absolutely loved Albury, he was born and bred," Tim Colquhoun said.

"He always had a thing for Albury and "wanted the best for Albury."

Mr Colquhoun died after enduring severe injuries from an accident on his motorised scooter at Myrtleford in November. He is survived by his wife, five sons and seven grandchildren.

A memorial service is set to be held at the Albury Club on a date to be decided.