The former Nowra Mazda car yard on the corner of Kinghorne and Plunkett streets is being transformed into a four-storey block of 44 serviced apartments.

The basement slab, which will contain 400 cubic metres of concrete, is soon to be poured.

The columns for the first floor are in place and work on the lift and stair core is also well under way.

Earlier this next week, the decks for the first floor were put in place, with contractors hoping also to lay the slab next week.

The development is described as four-and-a-half star, self-contained serviced apartments and includes some larger suites for family groups.

There will be one one-bedroom, 40 two-bedroom and three, three-bedroom apartments. The building will also include one retail store as well as basement car parking for 55 vehicles.

A conference room, gym and courtyard will also be part of the development.

The project is on schedule to be finished in early 2015.