A new apartment development is expected to attract thousands of residents to Auckland's Wynyard Central.

The project aims to create a new suburban community between Westhaven and the city's CBD.

Managing director of Willis Bond property development Mark McGuinness has unveiled the Wynyard Central project plans.

He said it will "eventually be five blocks, nearly 600 apartments over 17 different buildings."

McGuinness thinks the project will change the city's waterfront.

"There'll be a few thousand people living round here, plus other residential development that will happen over time as well."

The apartments are expected to fetch between $555,000 and $1 million.