The ACT Government has sold a prominent site near City Hill to Capital Property Group for $66 million (ex GST) to make way for a new mixed-use development.
The project, located between City Hill and QT Hotel Canberra, is set to include residential and commercial spaces, a hotel, and a large public park.
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
ACT Chief Minister Andrew Barr highlighted the significance of the project.
“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,” said Mr Barr.
“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.”
Construction is expected to start in 2026, pending approvals, with completion anticipated between 2028 and 2034. Around 800 jobs are expected to be created during the construction phase.
The design, created by Bates Smart, EM BE CE, and JPW, will now go through the National Capital Authority approval process, including public consultation. The sale was part of a public tender process managed by JLL, concluding in December 2023.
