A $170 million high-rise slated to bring "five-star" luxury to Woden is the latest project in a long list set to add thousands of apartments to the southside town centre.
Developer Zapari's project, dubbed The Shard, on the corner of Corinna Street and Melrose Drive, will include 281 units.
Zapari initially attempted to build 400 units on the site but was forced to scale back after community consultation.
There will be a mix of two- and three-bedroom apartments while the top two levels house nine, million dollar penthouses.
Six of those will be double storey, complete with spiral staircases and private elevator access.
The largest of the penthouse units is 314 square-metres with five bedrooms and four bathrooms.
Zapari chief executive Nick Skepev said the project met increasing demand for larger apartments.
"People are actually choosing apartments as a lifestyle choice," he said.
"It used to be, 'I can't afford a house so I'll buy an apartment'."
The ground floor of the development fronting Corinna Street will house retail space.
Mr Skepev said the mixed-use project was designed to revive "worn-out" Woden.
"My vision for this particular development is create an iconic development that creates a place where residents can gather," he sad.
"We've tried to activate Brewer Street and Corinna Street, we've set back the facade. Ideally we'd like to see a restaurant or something go on the corner."
The apartments are luxurious, for a "sophisticated buyer" according to Mr Skepev.
The building includes a piano room, wine cellar, wellness studio, business lounge and concierge.
"The whole philosophy for this project was to create those ... communal areas that residents could to go to meet and gather," he said.
The development is the latest in a long line of residential additions bringing thousands of apartments to Woden town centre.
Zapari recently teamed up with Geocon to develop Grand Central Towers, a 430 unit build.
Construction on another Geocon 800-unit project is set to begin mid year.
Mr Skepev said increasing residential density was critical to create "that vibrancy and activity like Braddon".
"Woden is basically the only town centre that doesn't have a lot of residential density within the town centre itself," he said.
"That's probably why it's been hard for some of these retail spaces to take off."
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Woden Valley Community Council president Fiona Carrick said development was welcomed to revitalise the town centre, but a balance hadn't been struck incorporating green space and community facilities among the many new residential projects.
"We want to see a balance in the development of the town centre to include homes, jobs, public spaces, and community facilities," she said.
"Social inclusion and people's wellbeing are important and it is essential to have open green spaces and public community facilities to provide active places and bring people together in the town centre."
"We want to build communities, not just consumers for Westfield."
Construction on the project is expected to begin in 2022 and take 18 to 24 months.
