The masterplan for the privately funded Campion College includes six new student accommodation halls to help cater for about half of the 200 full-time domestic and international students by 2020

The masterplan also includes a new chapel, dining hall, gymnasium and library for the institution, which was established 10 years ago on the former site of a Marist seminary.

Campion College Australia president, Dr Paul Morrissey, said the approval was critical for the future of the college and would help fill the growing demand for student spaces.

"This approval is a guarantee of the college's future,” he said.

“Since our opening in 2006 student enrolments have steadily grown and this development will help meet demand.

The first stage of the development will be named Jordon Hall after long-time leader in Australian Catholic education Father Greg Jordan SJ.

Campion was established by the Campion Foundation through donors and does not rely on government funding.

The new development will and will be funded with a capital appeal that is currently under way.