The New Zealand village operator is on track to meet its target for five villages I Melbourne by 2020 after lodging a development application for a new village and aged care development at Coburg.

The site, which allows for developments up to 11 storeys high, is proposing to building 106 aged care beds, 76 serviced apartments and 207 independent apartments on a 1.2 hectare site on Bell Street close to the Coburg Lions AFL ground.

The development will also feature resort-style amenities including an indoor swimming pool, movie theatre, café, bar, hair and beauty salons.

The application will now be considered by the local council following a period of consultation with the community.