With early work on the bridge starting this week, and a clearer picture developing of where its riverside footprint will be, Mr Ward said the way is now clear to consider development.

This could include building hotels, houses, restaurants and recreational businesses close to the water.

"I think the Shoalhaven River bank is the most underutilised asset in the whole of the Shoalhaven," Mr Ward said.

"When I was deputy mayor I put plans on the books for the redevelopment of that area but the missing part of the puzzle was always the replacement Shoalhaven River bridge.

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"Now that we know where that is going to go there are enormous opportunities for the council to promote development, growth, business and activation along the waterfront.

"I certainly hope they take advantage of that."

For Mr Ward, the development would see this "underutilised asset" put to better use.

"I think that is something the whole region would benefit from," he said.

"Look at the waterfront in other regions, look at what Wollongong's done along Cliff Road. Look at what Batemans Bay has done with its riverfront.

"They are stunning jewels in those communities.

"The Shoalhaven River is more beautiful than any of those and we need to utilise its full potential."

Early work on the the Shoalhaven River bridge began this week which included some geotechnical investigations.

"Locals will already be seeing crews drill holes in the road for the testing of soil, rock and pavement samples," Mr Ward said.

A barge with drilling equipment is already in the Shoalhaven River and will carry out investigations of the river's floor.

Demolition of empty buildings to make for a new lane out of Illaroo Road have already begun and will continue for the next three months.