The Pier, which will be launched next weekend, will be the fifth development at the foreshore for developers Doma Group.

The project will include 156 apartments, including 30 penthouses, spread across three buildings on the vacant land between the Bridge Point and Lake Front residences and the Kingston Harbour.

The landmark building on the site, at the end of the island, will have views across the wetlands, lake and towards the city.

The ACT government awarded the tender at the end of last year. The development application for the anticipated project was lodged with the ACT Planning and Land Authority this week.

Doma Group’s Gavin Edgar said while some of the design elements from the Dockside development had been used in the project, it would have a distinct identity.

“We talk about it being a little bit like the realm precinct by the water, it’s not Dockside and it’s not Bridge Point, it’s something a little bit in between both of them,” he said.

Mr Edgar said the company no longer had to sell the foreshore as a destination because it was a thriving area.

“The exciting thing for us is we’re not having to tell people what it will be any more,” he said. “People can see what they’re getting now, it’s not a hard sell, people want to live there, it’s an established precinct.”

The development will include four commercial sites for restaurants, which have already been sold, three retail tenancies available for lease and about 600 square metres of office space.

Mr Edgar said the office space would suit self-managed super fund buyers looking at owning and running their business in a boutique setting.

He said a boardwalk would be built to connect with the pedestrian pathway around the full peninsula to enable walkers and cyclists to link with the existing infrastructure on the foreshore.

The three buildings will contain an even spread of penthouse apartments and a mixture of one-, two- and three-bedroom apartments.

Doma Group has used architect Redgen Mathieson for the design, while Bloc will build the project.

Both have worked on other Doma Group projects, such as the Hotel Realm precinct.

Colliers International project marketing residential director Derek Whitcombe said the Kingston Foreshore had been so well planned and thought out that it had become a mecca for people wanting to live there or visit the precinct.

Mr Whitcombe said about 28 of the apartments had been bought before the official release next week and he expected the remaining units to be sold quickly.

Construction is expected to begin at the end of this year or early next year and will take about 20 months.

Land at the Kingston Foreshore has been popular with developers; two blocks sold on the peninsula for $14.3 million last month.

The peninsula is across the water from the island and is the next area to be developed at the Foreshore.