The group has submitted a development application for the long-awaited residential precinct in Fyshwick.

The proposal includes 388 apartments spread across 11 buildings, each up to four storeys high, plus 20 townhouses and some commercial spaces.

It's a significant reduction from initial plans, released in October, which proposed 500 dwellings across 13 buildings.

The residential neighbourhood will be delivered in five stages. The first is expected to be completed in August 2025, with the final stage slated for November 2030.

The majority of the apartments (228) are proposed to be one-bedroom units while 67 would be larger, one-bedroom plus study apartments.

The remainder would be 53 two-bedroom apartments, 40 three-bedroom apartments, as well as five four-bedroom townhouses, five four-bedroom attached houses and 10 five-bedroom townhouses.

Molonglo co-director Nikos Kalogeropoulos said the group had worked through various options for the site over the past 18 months.

He said the design submitted for development approval was "less vertical with more open space".

Dairy Road's residential neighbourhood would operate under a community title arrangement, while each apartment building would then operate under its own unit title scheme.

Mr Kalogeropoulos said a community title would allow for bylaws that are specific to the nature of the precinct.

"At Dairy Road a significant proportion of the land will be landscape and gardens. Through the community title arrangements Molonglo will retain ownership of these landscape and garden areas which will enable us to care and maintain them over the long term as per the original vision," he said.

"Importantly the community title arrangement will guarantee that all unit owners along with visitors will always have full access to and enjoyment of these amenities over the long term."

The plans also include 1233 square metres of commercial gross floor area, which will be located on the ground floor of some of the apartment buildings.

A total 489 car parking spaces are planned for the development, spread across basements and surface parking. There would also be 535 bicycle parking spaces for residents, housed within individual storage cages with some additional spaces in secure storage rooms.

Molonglo has engaged international design practice David Chipperfield Architects for the project.

The group has also partnered with UNSW Canberra researchers to trial the use of rammed earth in the project, as a more environmentally-friendly building practice.

In its community consultation report, Molonglo stated its ambition was to provide a mix of dwelling types to cater to a population of residents that represents a "wider cross section of society".

For example, one dwelling type is designed specifically for share housing.

"Apartment types are varied and have been designed to appeal to a broad range of people and their specific spatial needs including solo dwellers, retirees, families, couples without kids and students," Mr Kalogeropoulos said.

The group said it may also retain ownership of some of the initial release of dwellings, but clarified the development was not designed as a build-to-rent complex.

"We are conscious of providing options for extended security of tenure if properties are rented," Molonglo stated in the report.

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While there will be no social housing provided in the development, Molonglo has committed to donating 0.1 per cent of sales revenue from each dwelling to affordable housing funding provider Homes for Homes.

The period for representation on the development application closes on April 11.

Molonglo has also submitted a separate development application for consolidation and lease variation of the blocks.

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