The development will include a 118-bed, three-storey aged care facility, with beds for special care purposes including respite and dementia-specific needs.

Construction will also include 45 single-storey retirement villas, likely with electric vehicle charging capabilities, which will extend on from the company's existing village next to the site, The Grove.

The construction company, which the Suburban Land Agency named as the preferred tenderer for the site in March 2021, will also undertake restoration and upgrades to the Gold Creek Homestead buildings.

The homestead's stone cottage, kitchen wing and slab hut will be restored and repurposed as a space for both residents and the community. Parts of the existing homestead building will be demolished.

A spokesperson for the company said the homestead precinct would be used for "health and wellbeing facilities".

The homestead precinct could host "community markets, a bush tucker garden, art and craft facilities, yoga and wellbeing activities, lecture series and social events", the spokesperson said.

"We want to create an intergenerational site at Gold Creek Homestead that is sustainable, inclusive and builds on our existing connection with the local community," managing director of Lendlease retirement living Nathan Cockerill said.

"Our intention is also to retain, restore and activate elements of the original Gold Creek Homestead and ensure the design of the precinct respects its rich heritage."

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A cafe on the ground floor of the aged care facility will also be open to the public.

Once approved, construction is set to begin later in 2022 with a completion date of 2024.

Lendlease runs three other retirement facilities in the ACT.

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