Before Paynesville was developed by Riviera Properties Limited a canal system in the area was created. This was an early project for Riviera Properties.

Since 1984 Riviera Properties has been progressively changing the layout of Paynesville. This was started off by the highly successful paynesville canal waterways. The reason for the construction of these waterways by Riviera Properties was to open up the area to many more waterfront properties than what already existed. Currently Riviera Properties have constructed well over 200 amazing waterfront properties in the Paynesville area.