Dubbed Formation, the project could include offices, co-working spaces, a restaurant and produce market if approved.

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Planit Strategic, on behalf of Mildura St Pty Ltd, has applied for the demolition of the existing building on the site known as block 2, section 6 and the construction of a new, four-storey building.

The commercial site, which is currently partially tenanted, was acquired in 2020 for $3.9 million, CoreLogic records show.

The application also includes a lease variation to broaden the site's permissible uses and extend the gross floor area to approximately 10,000 square metres.

The total cost of works is estimated to be in excess of $30 million.

Application documents state the development would include a "modern and low environmental impact building that can cater for business incubation, co-working, recreation and a number of other permissible uses".

It states the "forward-thinking design" would incorporate green infrastructure, electric vehicle charging and end-of-trip facilities for cyclists.

The site is located in the mixed-use industrial area of West Fyshwick, nearby to the Fyshwick Fresh Food Markets, Canberra train station and the Kingston Foreshore.

The period for public representations closes on December 15.

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