Project developer Thirdi Group announced on Wednesday that it had appointed Sydney-based construction company Decode to lead the $110 million build.

The development includes 180 luxury one-, two- and three-bedroom apartments built across two towers at the former Dairy Farmers site at 924 Hunter Street, Newcastle West.

Tower one is the highest at 30 storeys and tower two spans 25 storeys.

A separate commercial space is five storeys high.

"Today's announcement marks the start of an exciting partnership that will see Dairy Farmers Towers brought to life for residents and the wider Newcastle community," Thirdi Group co-founder Luke Berry said.

Mr Berry said Decode would be on-site in the coming weeks upon completion of early works for the project.

The residential and retail development will retain the heritage-listed milk bottle and clock towers synonymous with the site of the former Dairy Farmers building which was established in 1939 and used for receiving, bottling and distributing milk until 1991.

Mr Berry said Decode was chosen for the build due to its experience in construction and its history of transforming and restoring historical sites.

Other projects completed by Decode include the Grande Pyrmont Bay Estate in Sydney which comprised 11 luxury terrace homes surrounded by heritage-listed buildings.

"We were thoroughly impressed with the quality of the build at Grande Pyrmont, and we have wanted to work with Decode ever since," he said.

"After reviewing Decode's projects within Sydney and the surrounding areas, we gained an understanding of the team's ability to deliver a quality product that all stakeholders were proud of."

As well as the 180 apartments, Dairy Farmers Towers will include communal green spaces, a state-of-the-art gym, an elevated outdoor swimming pool and sundeck, a wine bar and cellar, as well as a residents' only shared work hub.

In addition, the project will also re-imagine the site's glass milk bottle and clock towers as part of a broader public art installation.

According to Thirdi Group, Dairy Farmers Towers has seen strong interest since its launch in late 2021, with 75 per cent of the apartments already sold.

This includes the $6.5 million sale of a penthouse spanning 325 square metres.

"Despite tough economic conditions over the past 12 to 18 months, we haven't seen a decline in activity throughout the region with demand remaining steady for the relaxed, more affordable lifestyle Newcastle has to offer," Mr Berry said.

The project is the latest in the city for Sydney-based Thirdi Group which has already completed seven other developments in Newcastle including WEST Apartments, Eaton On Union and Stella on Hannell.