If consent is granted, the landowner intends to cancel Telecom and Vodafone cellphone tower access agreements when they expire in 2015.
Roys Peninsula is on Lake Wanaka north of Glendhu Bay.
Lakes Environmental received 10 submissions on the proposal: five in support, three neither supporting nor opposing; and two opposing.
The opposers are the Upper Clutha Environmental Society and the Wanaka Residents Association.
The trust's neighbour, John May, of Just One Life Ltd, is one of three submitters who neither opposes nor supports the application but is seeking conditions.
Mr May wants conditions that would honour a mediation agreement reached between the application, his company and the Queenstown Lakes District Council last September.
The other organisations seeking conditions are the New Zealand Fire Service and Ngai Tahu.
The supporters are Parkins Bay golf course proposers Bob and Pam McRae, Wanaka accommodation providers Tim Dromgool and Allan Fraser, Mike Bayliss, of Wanaka, Mark Gray, of Roys Peninsula, and Hils Stapper, of Cardrona.
The trust, which is associated with Auckland property consultant Greg Marler, hopes to avoid having to return to the Environment Court to appeal an earlier refusal of consent for a house on its 108ha sections overlooking Lake Wanaka.
The application being heard from August 12 is a fresh consent application, for a different house on a different part of the block.
Mr Marler told the Otago Daily Times last month that 15-20 people had attended an open day to view the latest house plans and most were supportive.
He hoped the project could be completed this time.
He has spent many years trying to win approval to build a house and begin a native vegetation restoration programme on the former pasture land.
Mr Marler declined to say how much his consent battle had cost him.
It has been widely acknowledged by people within the council as the most expensive application for a single dwelling ever processed by the Queenstown Lakes District Council.
Mr Marler had previously said he would continue to farm the land if a dwelling consent was not granted but would not be drawn on his options when interviewed recently.
He has also obtained consent for two farm buildings but has agreed to build just one if he gets a dwelling consent.
If consent was granted, he hoped to establish a native plant nursery and sell plants wholesale from the site.
Mr Marler said he believed the media had blown his plans for Roys Peninsula "all out of proportion".
"If there was much interest in what's happening at Roys Peninsula, I would have expected a lot more people to be there [at the open day]," he said.
Mr Marler said he was disappointed the society had decided not to be part of the 2007 mediation agreement.
The agreement allowed the parties to settle on an alternative site for the house, subject to various conditions.
The society was prepared to agree to an alternative site, but not the one chosen, because it was not one of the alternatives discussed at earlier hearings.
The society said the Environment Court did not have jurisdiction to consent to the mediated settlement because the merits of the new site had not been assessed.
The society and the association both said in their submissions the new site was inappropriate for development.
Mr May supports consent if it is granted strictly according to the terms of the 2007 mediation agreement, including the construction of only one farm building.
The mediation agreement also includes a restrictive covenant securing the removal of the telecommunication masts.
A shared Telecom-Vodafone mast has been on the northeastern arm of Roys Peninsula for about 10 years, providing mobile phone coverage around Wanaka and as far as Treble Cone.
Consultant planner Andrew Henderson's report for the Queenstown Lakes District Council is under way.
