The first glimpse of the development, which has already been approved by council, shows a man-made lake with boardwalk, cafes, shops and community services.

Developers claim the precinct will contribute $185 million each year to the local retail industry and generate hundreds of jobs, including 600 flow-on jobs in nearby Queanbeyan.

Googong project director Malcolm Leslie described the precinct, known as Googong Central, as an "important milestone" for the community.

As well as a tree-lined boulevard off Old Cooma Road, plans reveal lots for more than 1100 new homes, which Mr Leslie said would be a mix of apartments, terraces and more traditional houses with larger backyards for families.

Up to 4500 people are expected to move into Googong's second neighbourhood. Major supermarkets are tipped to open in 2024-25 in a shopping and entertainment precinct roughly the size of Manuka.

"The choice in housing will be bigger...to meet the growing demand in the wider Canberra market," Mr Leslie said.

"The town centre will create more opportunities for people to work close to home, particularly young people and working parents."

A new K-12 public school and sports club, which will be run by Queanbeyan Whites Rugby Club, are also featured in the plans.

More than 2300 people have already moved into Googong North, with the area's first village shopping centre due to open in April.

In the next 15 years, Googong is expected to host a population of about 18,000 just outside Canberra.

Almost 25 per cent of the 800 acres is reserved for public open space and conservation areas. The Googong Foreshores now rank on the Commonwealth Heritage List, and Googong Central will also develop the Nangi Pimple hilltop reserve on the area's highest peak.

In 2016, Googong became the first Canberra community to be recognised by the property industry with a five-star rating for sustainable development.

The project is the work of developers Peet Limited and Mirvac.