Twelve parties have expressed interest in purchasing apartments worth more than $1 million each at businessman Errol Stewart's proposed Kings Wharf Towers development.
And all of the prospective buyers are locals.
Mr Stewart, the managing director of JMC, which has been slated to complete the build, announced the $50 million Lindsay Street development in May this year.
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The two 43-metre towers would both contain 22 apartments, at approximately 300 square metres each.
Situated 80 metres apart, the towers will be located opposite Peppers Silo Hotel.
A central building between the towers will feature an indoor pool and gym, and an office which has already been sold.
JMC is also planning a high-end grocery store for the area, and is in discussions with a major national retailer to build a 2500 square metre store behind the nearby Bunnings.
Mr Stewart lodged an amendment for rezoning to the City of Launceston on Wednesday.
The apartments will start at $1.5 million each and be sold for up to $2 million.
Mr Stewart hosted a private dinner for 20 couples at the Silo Hotel on Thursday and "took the interested parties through the whole [Kings Wharf] development".
"The interest has been solid," he said.
"We've got a list of 12 people who have approached us who are interested in buying.
"I think we can probably have the south tower [completely sold] by early next year."
Mr Stewart said the location of the development was proving attractive to prospective buyers.
"It's very close to town, it's got a terrific view of the city, it's got a terrific view of the river," he said.
Launceston Chamber of Commerce chief executive Neil Grose has previously said investments like the Kings Wharf Towers development showed that "there is great confidence in Launceston".