The joint venture from Geocon and Zapari will be completed at the end of the month with residents expected to be in by January.

About 1500 people will live in the 18 and 26-storey towers with 430 apartments.

Zapari chief executive Nick Skepev said the almost completed development was a step towards the transformation of the Woden town centre.

"It's going to bring about 1000 residents into the town centre so that will help reactivate the night life and the town centre itself," he said.

"The light rail stops adjacent to the building and the government has committed obviously to relocating the CIT here as well, which will also help with the transformation and revitalisation of Woden."

He said the project had fallen slightly behind schedule but hadn't been hindered by COVID-19 restrictions as the construction industry worked through lockdown.

Geocon managing director Nick Georgalis hoped the development, which was among several high-rises planned for Woden, would bring a new demographic to the area.

"Woden town centre does need more people living in it," he said.

"One of the biggest challenges of Woden as a greater area is its declining population.

"A town centre that's never really had anyone live in it tends to decline because people aren't using it during the evening.

"Woden's always been a place of employment only.

"If you look at Belconnen town centre it's got a lot more apartments in it, it's got much more vibrant atmosphere."

Mr Georgalis said 400 apartments had already sold, with more expected to go following the opening of a display floor.

"There is a great possibility for people to be in before Christmas, but certainly January at the latest," he said.

The project is one of multiple in the Woden Town Centre, with Geocon's $400 million WOVA development expected to be released to the market next year.

Geocon gained approval for 24, 16, 13 and 12-storey buildings on the former Woden Tradies Club site in 2018.

The original proposal had been scaled back after community backlash over the height and scale.

Among the many high-rises planned for the area is Zapari's Woden precinct development on the corner of Brewer Street and Corinna Street.

Mr Skepev said the development application for the $400 million project would be submitted in the coming months.

Although he wouldn't provide specific plans he said the mixed-use development would include around 400 apartments and be 12 to 16 storeys high.

It was earlier touted the project would include around 600 apartments.

He said community consultation was ongoing and hoped for approval to commence construction by the end of year.