A NEW generation of Victorians will experience the grandeur and majesty of the Mount Buffalo Chalet, with the historic building set to reopen as an outdoor education centre and more.

Belgravia Group has signed a 40-year lease with Parks Victoria to open the state-owned chalet for experiential learning programs.

Through Belgravia Outdoor Education, the group aims to bring the transformative power of outdoor education to the lives of students across Victoria and create positive and long-lasting change through engagement with nature.

Built in 1910, the national heritage listed Mount Buffalo Chalet is the largest timber accommodation building in Australia and was an icon of high country tourism until public closure since 2007 due to loss of trade, in part due to bushfires which destroyed the nearby Cresta ski field facilities in 2006.

The chalet’s revitalisation expects to provide valuable educational experiences and personal development opportunities to more than 5000 students a year, who will enjoy the crisp fresh air, giant tors, deep gorges and tumbling waterfalls of Mount Buffalo National Park.

Public access will be maintained with a new café and information centre to be open year-round.

The café is expected to reopen in early 2025 with the first schools expected soon afterwards.

In the future, accommodation at the chalet will also be available for individuals and groups.

The reactivation is expected to drive regional economic growth by creating more than 50 jobs, including traineeships in outdoor education and hospitality, while supporting local businesses and entrepreneurship.

Announcing the news at the chalet on Wednesday, Parks Victoria board chair John Pandazopoulos said the lease is the culmination of a process that began in 2019, and this project "seeks to provide a new lease of life for the historic site, preserve the heritage asset and reignite community pride".

In recent years, the Victorian Government has invested $2.8 million in maintenance and conservation works on the chalet, with a further $1.8 million committed for the café and outdoor education centre.

An additional $3 million investment by the Australian Government this year has helped conserve the façade of the sprawling chalet to keep it wind and water-tight in the alpine conditions.

“Reopening the chalet has been a long-held dream for many people in the local community, and across Victoria," Mr Pandazopoulos said.

"It’s a place with many special memories and a lot of history.

“We’re proud of the work Parks Victoria rangers and staff have done over the years to maintain the chalet and are delighted such an exciting future has been secured.”

Belgravia Outdoor Education CEO Richard Thornton was also delighted a deal had been done.

"At the Mount Buffalo Chalet, students will embark on journeys that not only connect them with nature but also build resilience, leadership, and teamwork skills that last a lifetime,” he said.