The proposed development by Melbourne group Cambria Green Agriculture and Tourism Management which represents a mix of Chinese and Australian investors, is located at Dolphin Sands, 148km south of Hobart.
If a request to rezone the land is approved by the local council, the project will see 70 villas, 240 units and a 120-room luxury hotel built on 3,185ha making it the largest tourism development in the state.
Other features would include a large retirement village, two golf courses, 80 apartments, function and conference facilities and an 80-bed palliative care unit.
The plan however will face stiff opposition from the community according to the locals.
The group bought the two main properties in March 2015.