Released 20/01/2025
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An innovative, eco-conscious, and inclusive mixed-use development will re-shape the area south-west of City Hill following the sale of a landmark site by the ACT Government’s City Renewal Authority through a public tender process.
Sold to Capital Property Group for $66 million (ex GST), the development, will feature a range of residential and commercial spaces, including diverse architecture, affordable housing and green space. Construction will deliver approximately 800 jobs over 5 years, and eventually house approximately 1,000 residents and 1,200 workers.
Key design features:
- Integrated mixed-use precinct configured around a new park
- Four residential buildings, a high-end hotel, A-grade office building and activated ground floor retail including cafes, restaurants, and a convenience supermarket
- 502 homes, including 15% affordable rental dwellings
- A striking hybrid timber structure hotel
- A large city park, including landscaped green spaces, public art, water play and dining
- Carbon neutral precinct with world leading sustainability targets
- Collaboratively designed by architects Bates Smart, EM BE CE and JPW
Located between City Hill and QT Hotel Canberra, the site is currently supporting the project to raise London Circuit. Subject to obtaining necessary approvals construction may commence as soon as 2026, with completion in stages expected between 2028-2034.
First advertised by public tender on 4 May 2023, the sale was run by JLL over two stages with the first stage (request for EOIs) closing on 4 July 2023 and second stage (request for tender) closing on 12 December 2023. Following the completion of the sale, the draft design will proceed to National Capital Authority works approval which will include a public consultation process.
Quotes attributable to Chief Minister, Andrew Barr:
“Consistent with long-term planning commitments, Canberra’s City Centre is expanding southwards towards Lake Burley Griffin. This development takes advantage of nearby infrastructure including two new light rail stops and will deliver much better connections from the city to the Acton Waterfront.
“This place will make a substantial contribution to Canberra, enhancing the city’s cultural and social fabric. The project increases housing supply and diversity, with 76 of the 502 dwellings designated as affordable rentals.”
Quotes attributable to Craig Gillman, CEO, City Renewal Authority:
“The competitive, two-stage public tender process has ensured a sustainable and high-quality development will be delivered to benefit all Canberrans. This represents the best possible outcome for the Canberra community and one that is fitting of its remarkable location.
“We set very high expectations for the market with this sale. We asked for architectural diversity, outstanding design, connections with the light rail and surrounding places, and exemplary responses to environmental and social inclusion criteria.
“Part of the City Renewal Authority’s ongoing efforts to revitalise the City Centre, this new development will bring more people into the City Centre and have important flow-on benefits for the local economy.”
Quotes attributable to Stephen Byron, CEO, Capital Property Group:
“We are thrilled to be entrusted with this unique opportunity and make a lasting and environmentally responsible impact in the heart of the city.
“Our vision is to create a vibrant and diverse urban place that all Canberrans and visitors can be proud of. Against a challenging economic environment, this ongoing investment in the Canberra CBD underlines the importance of the area as the focal point for Canberra civic life and recreation as well as our group’s continuing commitment to Canberra and its prosperity.
“The precinct prioritises environmental responsibility, embraces outstanding design, and will be fossil-free in operation. Our proven track record and commitment to excellence demonstrates we can deliver on all these elements in a way that is architecturally distinct from other city developments.”
Quotes attributable to Richard Snow, Group Head of Property, Capital Property Group:
“The project will include six distinct buildings, each with their own architectural language and style. We purposely commissioned three world-class architects to achieve this variety and create a vibrant, distinct precinct.
“The heart of the development will be the large urban park where all the various buildings will present to. The mix of different uses including a high-end hotel, retail and commercial space and large residential component, will complement each other to create maximum vibrancy and activity around the clock.”
- Statement ends -
Andrew Barr, MLA | Media Releases