The 21-storey “vertical village” is currently a giant hole in the ground on the corner of Regent and Rawson Streets but those interested in making it their new home will be able to walk through a one, two or three-bedroom apartment with the assistance of virtual reality.

MMJ Wollongong is taking expressions of interest for the “six-star” residential and commercial development, while their “3D walk-through” will be ready at their Regent Street office by the end of July.

“People will actually be able to put on 3D goggles and walk through an apartment and we can actually give them the view [of Mount Keira] at the particular level that they’re looking out from,” said MMJ Project Marketing Manager Maurice Bertapelle.

He said the new technology was so real that when he wore the goggles and walked to the end of the virtual balcony he felt a little scared about falling off the virtual edge.

Viewers will also be able to select colour schemes and finishes to their liking.

“There’s so much sold off-the-plan these days it gives people a real view of what they’re going to see,” Mr Bertapelle said.

He said the luxury 102 metre tall high-rise would be an affordable luxury with amenities that will set it apart from any other Illawarra residential building.

Signature Wollongong will feature a concierge, outdoor fitness centre, open air theatre, 60 to 70 place childcare centre, jet swimming pool and resident function centre.

The building will also offer 125 apartments, one dual level penthouse, shops and office space; each with direct NBN access organised through strata.

MMJ CEO Jeff Jones said it followed development trends seen in Sydney and Melbourne.

The Regent Street site originally won approval under former developer David Shalala for a hotel. But it changed hands, was redesigned, and the hotel plan dropped.

The new $43.5 million design is by architect Tony Owen Partners for Chinese-backed Supomme Property Development Pty Ltd and was approved by the Joint Regional Planning panel in May.

Construction is expected to commence in 2017 and be completed within 24 months.

It comes as Colliers International has announced the four-tower complex Parq on Flinders, formerly known as the Gateway site, is also nearly ready to begin selling off-the-plan.