Neil says preparation and planning work is already underway, with engineers working on creating the final layout of the subdivision and confirming the size of the individual sections.
The plan for council to undertake the creation of this subdivision has been in the pipeline for a few years, and the idea of it has always received positive feedback from the community, he says.
"We are regularly being asked when the subdivision will go ahead. I'm very happy to be able to answer 'right now, it's happening' when people ask in the future."
Neil says the timing of this subdivision reflects the current need in the market.
"Until now there have been sections available throughout the township and that has been sufficient to meet market needs. However, in the last two or three years the market demands have put additional pressure on, and good sections are not so easy to find now.
This council subdivision will fill part of that gap."
Council is not aiming to make a large profit from the project, meaning the focus can be on making sections affordable.
The actual purchase and redevelopment of the land is also going to be cost neutral for ratepayers meaning it won't cause an increase in rates.
Neil says while private developments happen often, they aren't usually on the same scale as this one when it comes to a small town.
"Large commercial developers are very much profit driven, and the reality is they can make more money in the high growth metropolitan areas, so it is hard to attract them to small towns like Stratford."
Stratford itself offers a lot for home buyers however, says Neil.
"We have a really good small town lifestyle here. It's a safe place with a supportive community and is a great place to bring up a family. The central location makes it easy to commute around the region for work."
As well as providing new sections for buyers, Neil says the subdivision will help Stratford overall.
"It is vital our town continues to grow and this subdivision will help achieve population growth."
In addition, the subdivision will deliver improved infrastructure to the area he says, not just to the new homes to be built, but to the current surrounding homes.
"For example, Flint Road West and the north western part of town will receive a new water main as part of the development."