Canberra property giant Geocon has unveiled plans for another big mixed-use development in Civic, this time at the fast-developing southern end.
It is undertaking consultation on the three-building project on Allara Street before lodging a Works Approval with the National Capital Authority.
The 7641-square-metre irregularly shaped site (Block 16, Section 10 City) is on national land within the southeast corner of the city and bound by London Circuit and Parkes Way to the northwest.
The exact number of dwellings proposed is not known yet, but the project will add hundreds of apartments to the city centre.
The site is to be cleared to make way for three buildings up to nine storeys, with two levels of basement parking and also a mezzanine level for parking.
The ground level will be for commercial use, with residential units above, as well as rooftop communal gardens and amenities.
A landscaped plaza fronting London Circuit is intended to create a shared connection between London Circuit and Allara Street, including a communal garden and deep-rooted trees.
An internal driveway off Allara Street will provide vehicle access while pedestrians will be able enter from both London Circuit and Allara Street.
Setback to at least 15 metres is proposed to the east to provide generous separation between the project and the adjoining residential development on Block 4 to enhance privacy for residents in both developments.
This will also maximise the amount of sunshine available, and minimise overshadowing while providing spaces for generous landscaping, according to Geocon.
The proposal has been presented to the National Capital Design Review Panel (NCDRP) three times and will continue to be guided by its feedback.
A lease variation will be sought separately to permit the number of residential units proposed on the site.
Geocon managing director Nick Georgalis said the project presents an increasingly rare opportunity to buy a new apartment in Canberra’s city centre.
“The block is in a blue-chip position within the city precinct close to the lake, the theatre precinct, shops, restaurants and light rail,” he said.
“Vacancy rates are already at an all-time low across Canberra. With international students returning to Canberra during the next two years, pressure on the rental market is only going to increase.
“The pipeline of residential work in planning or approved is very thin and we expect Allara Street to appeal to both live-in owner occupiers as well as investors.”
The development’s three buildings would cater for both ends of the market, he said.
A virtual consultation session via Zoom with members of the project team will be held on Thursday, 20 January, at 5:30 pm.
To register and learn more, visit Purdon Planning.