The bronze sculpture, named Earthly Messenger, will be unveiled later this year in Aylesbury, Buckinghamshire.
It will be installed under the arches in Market Square, referenced by Bowie in the song Five Years.
The work features a likeness of Bowie in 2002 looking down at Ziggy, alongside of some of his other looks.
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Funds for the statue, designed by sculptor Andrew Sinclair, have been raised through a Â£100,000 crowdfunding appeal, plus grants.
When completed, speakers mounted above the life size artwork will play one of 2,000 tracks every hour.
Some changes are expected to the design before the finished product is officially unveiled in March.
Bowie unveiled two albums and his Stardust persona during gigs at the Friars venue in the early 1970s.
He played a gig there in September 1971 where he gave the town the world debut of his album Hunky Dory.
Four months later he played the venue again where the majority of the set was made up of songs which featured on the Ziggy Stardust album.
A model of a David Bowie statue planned for the town where his Ziggy Stardust persona was first performed has been revealed.