A Wagga real estate firm says it has broken the city's previous record for residential prices with price tags of up to $1.9 million for penthouse apartments at the Riverside tower development.
The development's selling agent PRD Wagga sold two penthouses for $1.8 million and $1.9 million at the top of the planned 17-storey building.
PRD Wagga managing director Simon Freemantle said the two apartments were "the two most-elite in the entire complex".
"The dearer one is the entire top floor and the other one is the second-highest entire floor," he said.
"They are the only apartments that occupy an entire floor each. There are no other apartments in Wagga that have sold for that by a long shot."
According to PRD Wagga's sale records, the penthouses have gone for more than the most expensive house sold in the city over the past 30 years, which was priced at just over $1.6 million.
The luxury top floor apartments will overlook the Murrumbidgee River at Sturt Street with the new owners planning to relocate to Wagga for business and occupy the penthouses.
Mr Freemantle said the level of demand for Riverside had been "exciting''.
"It's a one-off to have a complex like this adjacent to the riverside precinct that the council is investing an enormous amount of money into," he said.
Construction on the tower complex with start in January and the site will include 67 residential apartments and three street-level commercial premises.
Wagga City Council planning staff had recommended the developments be approved as part of a policy to encourage more residential living in the central business district.
"It has been in council's Local Environmental Plan and Development Control Plan for a number of years now that they want infill housing and denser living in the CBD," Mr Freemantle said.
"It's to try and increase the popularity of shopping in the CBD to probably combat online shopping sales as well."
Committee 4 Wagga chief executive Alan Johnston said the penthouses were an encouraging sign for the council's CBD strategy.
"As the city grows to 100,000 there is going to be a need not only for residential suburbs but also what can be afforded by way of new infrastructure in the CBD area," he said.
"When you see early success you are likely to see other investors seeking to build similar sorts of infrastructure, obviously in line with master planning for the CBD.
"It's truly exciting and a step in the right direction and it adds to the momentum of where we want to go."