Coffs Harbour Mayor Denise Knight turned the first sod this week, against a backdrop of sweeping ocean views.
Aspect @ The Summit, which is positioned high above the Big Banana, is the latest offering by The Village Building Company.
Preceding developments are The Summit and Vantage apartments.
The Aspect development comprises 29 blocks, ranging in size from 435 square metres to 995 square metres.
To date, 10 of these blocks have been sold.
Jenny Bonfield from First National Coffs Coast said the uninterrupted panoramic views and close proximity to the Coffs town centre provided by Aspect are rare.
"The Village Building Company is delighted that the market has had such a positive response in their appreciation of the estate."
Denise Knight said this project is absolutely fantastic for Coffs Harbour.
"The fact that developers from Canberra have got enough confidence to be doing a development of this size in our city is amazing; I mean when you look around, the view on its own is absolutely iconic, you just can't get views like this."