Fletcher Building wants to turn one of its disused quarries into a housing development for up to 1500 homes.
The 15.2 hectare Three Kings Quarry site is just 8km from Auckland's central business district, at the southern end of Mt Eden Road.
It aims to create two-to-three storey terrace homes, three-to-four storey apartments, and 10-storey cascading apartments set against the slope of the old quarry.
In plans submitted to Auckland Council, the firm also wants to include 6.4 hectares of Crown land in the development.
Its chief operating officer of housing Steve Evans said there would be more green areas amid the construction if they got the Crown space.
It could take up to 10 years for the project to be finished.
After the announcement on Friday, the company's share price rose 4 cents to close at $8.82.