The rapid pace of residential development at The Lakes has fast-tracked construction of a $4 million reservoir at the Pyes Pa water treatment works.

A report to the council today said the reservoir was originally planned to be built in 2010 until the Global Financial Crisis led to the collapse of The Lakes developer, the review of council capital works priorities, and the project being postponed.

Project manager Gareth John said development at The Lakes had recovered and lots were being released to the market at a "brisk rate". There was now a need to bring the reservoir into service in 2017-18.

Because of the complexities of the earthworks associated with the reservoir, it was originally envisaged that the retaining wall and stormwater works would not take place in the current financial year.

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"However due to the performance of the contractor and favourable weather conditions, there is an opportunity to accelerate the overall project programme."

The earthworks were now due to be completed by April 17. If the retaining wall and stormwater works did not commence immediately after completion of the removal of the preloading material, the contractor would have to disestablish and then re-establish in the next financial year.

"This will result in lost time to the programme and additional costs incurred with contractor establishment fees," Mr John said.

Today's meeting was expected to agreed to bring forward 2017-18 funding for the reservoir into the current financial year. It would result in cost savings and a gain of two months in the overall programme.

Pyes Pa reservoir costs

Design, consenting and tender documentation: $200,000

Removal of preload: $650,000

Retaining wall/stormwater works: $400,000

Reservoir construction: $2.747m