The £200 million plans would develop the 200-acre site, which would cover both sides of the A92 Stonehaven to Inverbervie road, over a period of 12 years.
Also included in the development would be new facilities for healthcare and education, as well as a new supermarket.
A new primary school would be built, while the existing Mackie Academy would be expanded to cope with the increase in pupils.
Land would also be set aside to create a coastal country park and a visitor centre at Dunnottar Castle.
Developers Stewart Milne Homes, Dunecht Estates and Bancon Developments showed the plans to councillors, MSPs and members of the public this week at an exhibition at the St Leonard's hotel to monitor community reaction.
Ramsay Smith, a representative of the development group, said: "At this stage it is just an indicative proposal. It's good practice to get feedback as early as possible as at this stage it's flexible."
He added: "There is going to be growth in Stonehaven in the future. The question that we're facing is how to accommodate that growth."
"I think this development would bring highly significant benefits to Stonehaven. It will bring more people to make use of the facilities the town already has to offer, and there will be huge potential in terms of employment to make it a sustainable community where people can work and live in the same place."
Cecile Mackie, who has lived in Stonehaven for 20 years, welcomed the amenities that a new development would bring. She said: "It seems like a good idea. We've needed a new supermarket for a while. The town badly needs to move on. Some people don't want it to change but you've got to think of the younger people."
Stonehaven and District Community Council will be discussing the plans at their next meeting on Tuesday July 8 at the Invercarron Resource Centre at 7.30pm, where there will be an opportunity to speak to representatives of the developers. Members of the public are welcome to attend.
An online questionnaire about future development in the area can be found at Stonehaven-comments@turleyassociates.co.uk
Plans can be viewed online at www.bancon.co.uk/stonehavensouth