Currently awaiting development approval, the $280 million residential precinct forms part of the broader redevelopment of Belconnen Markets, which will relaunch as Capital Food Market in 2023.

Elanor Investors Group, the firm redeveloping the markets, sold the 6049-square-metre site for $14 million last year to Custom Apartments, a joint venture between Canberra-based Intellectual Property Group and other Sydney developers.

Dubbed The Markets, the 10-storey residential development will be released to the public in six weeks, while a pre-market release will launch on Friday.

Peter Micalos, director of Custom Apartments and formerly a general manager at Geocon, said the combined markets and residential precinct will offer something new for Canberra buyers.

"People can go down to the markets and buy their fresh produce every day ... this is the first time that we've been able to offer that to [the] Canberra marketplace. So we're very excited about that," he said.

The current development application proposes a range of one- to three-bedroom apartments, plus three- to five-bedroom penthouses.

An entry level unit will be priced at $399,000, with high-end residences expected to fetch up to $3.5 million.

Mr Micalos said the development will deliver "extra-large apartments", with the average size around 95 square metres.

"There's been demand for a long time for an apartment to be designed for families, people with kids. Generally speaking, downsizers are looking for more space," he said.

Designed by Cox Architecture, the complex will be pet-friendly, with balconies and winter gardens included in the design.

As the development site was purchased from a private seller, not the ACT government, the complex is not required to, and does not plan to, allocate units to the territory's affordable home purchase scheme.

"Regardless, we believe that we're certainly providing affordable apartments in the project as well," Mr Micalos said.

Future residents will have access to a rooftop pool and a 5000-square-metre piazza on the ground level, which will house food and beverage outlets, plus retail and wellness businesses.

Rather than selling the individual commercial units, the developer will retain ownership of the ground floor and lease the spaces.

Mr Micalos said it would be run as a "mini commercial shopping centre".

"Our strategy is to get the correct retail mix that will be complementary to the food hall ... and really give the Belconnen Markets an additional street address and opportunity for the public to engage with this broader precinct," he said.

The developer has taken inspiration from Sydney precincts such as Grounds of Alexandria and Spice Alley.

"It's going to be a space that will be heavily curated throughout the different seasons in the year," Mr Micalos said.

"We want to have different pop ups, different kiosks and look at micro tenancies as well that change throughout the year to keep changing the experience for the nearby residents and the general public."

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Buyers will also have the opportunity to customise their apartment, with the option to upgrade to an electric vehicle charging car park.

Earlier this year, the Belconnen Community Council mostly welcomed the project but said traffic congestion and general accessibility was a concern.

Mr Micalos said the development proposes entry and exit points via Benjamin Way and Ibbott Lane, which may help to free up some of the congestion.

"We're putting in 50 commercial car spaces in our project as well just for visitors ... and most of our apartments also come with two car [spaces] as well," he said.

Following development approvals, construction is expected to commence by the end of 2022, with completion slated for 2024.

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