CANBERRA'S NEW $650M PRECINCT
29 Jan 2025
Capital Property Group has paid $66 million for a Canberra CBD site after a public tender process by the ACT Government.
Capital is now planning a precinct of six buildings. Four of those will be residential with 502 apartments planned. Of those, 76 will be designated as affordable within the mixed-use precinct.
Designed by Bates Smart, the precinct will also include a striking hybrid timber hotel. A city park and an A-grade office building with groundfloor retail, including cafes, restaurants and a convenience supermarket are also part of the plans.
The ACT Government said that the new precinct would be an “innovative, eco-conscious and inclusive mixed use development”.
The $650-million draft design will go before the National Capital Authority for works approval, which will include a public consultation process.
