Last April, the trust announced its plan for an 80-120-room six- or seven-storey hotel at 11 Don St.
Trust president Alan Dennis said it had taken more than a year to get to this point in part because many reports needed to be completed for inclusion with the building/demolition application, which had been prepared by different companies.
Once lodged, the application would be publicly notified and a hearing held, before the Invercargill City Council decided whether to approve the application, he said.
The process was "rigorous and expensive", but the trust wanted to ensure due process was followed so no issues arose to stop the project at any point, he said.
"We are making sure we do our homework thoroughly."
Council planning manager Terence Boylan said a decision about whether resource consent would be needed and the ILT's application should be publicly notified could not be made until the application had been lodged, but the applicant could request the application be notified at the time of lodgement.
"Given that the proposed hotel is a significant development, with a high level of public interest, it has the potential to be notified."
The ILT board had approved a budget of up to $40 million for stage one, involving 80 guest rooms, function/conference facilities, restaurant, bar, cafe and car parking. Stage two, with an extra 40 rooms, would follow if and when demand warranted it.
Mr Dennis said, all going to plan, demolition was expected to begin in January.
- Petrina Wright