Yesterday marked the official commencement of construction at The Parks, a significant milestone for the $260 million development in Red Hill.
The site behind the Red Hill Shops, formerly home to public housing, will be home to 25 land lots and 83 terraces delivered by Stockland, and as part of a joint venture, local company DOMA will deliver 136 apartments across six buildings.
Doma Group’s managing director Jure Domazet said the first stage comprising 68 apartments is expected to be completed in the second half of 2022.
As well, the Lady Nelson Park was officially opened at the site for the community to enjoy.
“To be able to open up to the public is pretty important,” Mr Domazet said, “people who are going to live here or buy here, but even local residents who want to just enjoy the area, it’s a really nice spot for them”.
More than half of the terraces have sold thus far, and Stockland’s regional development manager Calum Ross put that down to location, convenience, and proximity to schools.
“We couldn’t ask for anything better, really, in terms of in terms of location in Canberra,” he said.
“The site itself, it’s got a number of different housing typologies on it, which is fantastic to give people choice, as well as six parks in amongst the master plan.
“I’m really looking forward to releasing stage two really shortly.”
The Parks is Stockland’s first project in Canberra since developing the Waterfront Apartments on the Kingston Foreshore.
“Doing a project like this where it’s a mix of land, townhomes and apartment… it’s a great way to enter what is a really vibrant economy at the moment down in Canberra.”
In acknowledging the project’s milestone, local member and Health Minister Rachel-Stephen Smith said while planning for the site was surrounded by some controversy, it’s resulted in an “appropriately scaled” development that provides a gateway to from the shops to the broader suburb.
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