Laverton's runway was decommissioned September 1996. In early 2007 the Victorian Government gave approval for the land that was formerly the Laverton airfield and runway to be developed into the new suburb of Williams Landing. Three areas totalling were set aside for conservation. More than of nationally significant native grassland outside the reserves was permitted to be cleared by the state- and federal governments. Williams Landing is being developed into a transit-oriented development, major activity centre and employment node. As well as being a major activity centre and employment node, there will also be four residential neighbourhoods each with their own distinctive character. Construction of Williams Landing commenced in late 2007 and is due for completion by 2025.