“Southbound Growth: Canberra CBD’s Bold Expansion Toward the Lake”

Released 20/01/2025

[Images accessible for publication]

An inventive, environmentally-friendly, and inclusive mixed-use project will transform the region south-west of City Hill following the acquisition of a prominent site by the ACT Government’s City Renewal Authority through a public bidding procedure.

Purchased by Capital Property Group for $66 million (ex GST), the venture will showcase a variety of residential and commercial environments, including diverse designs, affordable housing, and green areas. The construction is anticipated to generate around 800 jobs over five years and ultimately accommodate approximately 1,000 residents and 1,200 workers.

Prominent design characteristics:

• Integrated mixed-use neighborhood centered around a new park
• Four residential edifices, a luxury hotel, A-grade office building, and lively ground floor retail including cafes, dining establishments, and a convenience supermarket
• 502 residences, comprising 15% affordable rental units
• A remarkable hybrid timber structure hotel
• A spacious urban park, featuring landscaped green spaces, public art, water play, and eateries
• A carbon-neutral neighborhood with top-tier sustainability goals
• Jointly designed by architects Bates Smart, EM BE CE, and JPW

Situated between City Hill and QT Hotel Canberra, the site is currently aiding in the project to elevate London Circuit. Subject to obtaining the necessary approvals, construction may begin as early as 2026, with stage-wise completion expected between 2028-2034.

First advertised via public tender on 4 May 2023, the sale was managed by JLL across two phases with the initial phase (request for EOIs) closing on 4 July 2023 and the second phase (request for tender) concluding on 12 December 2023. After the sale is finalized, the draft design will move to the National Capital Authority for works approval, which will include a public feedback process.

Quotes attributable to Chief Minister, Andrew Barr:

“Aligning with long-term planning commitments, Canberra’s City Centre is growing southward towards Lake Burley Griffin. This development capitalizes on adjacent infrastructure, including two new light rail stations and will provide significantly improved connections from the city to the Acton Waterfront.

“This location will greatly enhance Canberra, enriching the city’s cultural and social landscape. The project boosts housing supply and variety, with 76 of the 502 homes designated as affordable rentals.”

Quotes attributable to Craig Gillman, CEO, City Renewal Authority:

“The competitive, two-phase public tender process has ensured a sustainable and superior development will be realized to benefit all Canberrans. This represents the most favorable outcome for the Canberra community and one that is well-suited to its extraordinary location.

“We established very high expectations for the market with this sale. We sought architectural diversity, exceptional design, links with the light rail and nearby areas, and outstanding responses to environmental and social inclusion criteria.

“As part of the City Renewal Authority’s ongoing initiatives to rejuvenate the City Centre, this new development will draw more individuals into the City Centre and yield significant positive effects for the local economy.”

Quotes attributable to Stephen Byron, CEO, Capital Property Group:

“We are excited to be given this unique opportunity and to make a lasting and ecologically responsible impact within the city’s core.

“Our vision is to develop a lively and varied urban space that all Canberrans and visitors can take pride in. Amidst a challenging economic atmosphere, this continued investment in the Canberra CBD emphasizes the significance of the area as a central hub for Canberra civic life and leisure as well as our group’s ongoing dedication to Canberra and its prosperity.

“The precinct prioritizes environmental stewardship, embraces remarkable design, and will operate fossil-free. Our proven record and commitment to excellence indicate we can deliver on all these aspects uniquely compared to other city developments.”

Quotes attributable to Richard Snow, Group Head of Property, Capital Property Group:

“The project will encompass six unique buildings, each with its own architectural language and character. We intentionally engaged three world-class architects to accomplish this diversity and foster a lively, distinctive precinct.

“The centerpiece of the development will be the expansive urban park that all various structures will face. The variety of uses—including a luxury hotel, retail and commercial spaces, and a large residential component—will complement one another, creating maximum vibrancy and activity around the clock.”

– Statement concludes –

Andrew Barr, MLA
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