IRT Group has lodged a development application for the project, which chief executive Nieves Murray said would offer ‘‘high-quality, custom-designed living at affordable prices.’’

‘‘With this development we are exploring a new direction in project delivery and social engagement,’’ she said.

‘‘This is an opportunity to establish a single-level affordable housing option for older people.’’

If approved, construction  would start in 2016, with a staged investment of approximately $30million.

The project’s masterplan was created by Illawarra and Shoalhaven-based architecture firm Edmiston Jones.

Ms Murray said the proposed development would have a seaside village feel, with boathouse-style material  and crisp rooflines.

A mix of materials and finishes, including panelled glazing, would add to the atmosphere of contemporary lakeside living, she said.

‘‘Rather than a cheap housing solution, this new approach in design and construction methodology will allow us to create a community where residents seek to belong for aesthetic reasons, not just price,’’ Ms Murray said.

Recreational facilities  aimed to provide a connection with surrounding land, with a ‘‘nature discovery’’ observation deck for birds and wildlife in the natural wetlands a unique feature. 

The development application will be on display with Wollongong City Council until August 28.