Canberra developer Morris Property Group broke ground on its $300 million Manuka development on Wednesday, marking a new chapter for Canberra’s inner south.
The new urban lifestyle precinct, Renaissance is a mix of one, two and three-bedroom apartments and penthouses, and forms the much-awaited regeneration of the dilapidated Stuart Flats public housing site.
Morris Property Group Director Barry Morris, on site to turn the first sod on the development, says the new urban precinct will replace the derelict, graffiti-covered site that has long been a blight on the landscape and deliver a new amenity for local residents.
“This project will replace an eyesore with green space and pathways between buildings, extending the village feel that has long been a hallmark of Manuka,” Mr Morris said.
The project, covering three parcels of land located on Captain Cook Crescent, Stuart Street and Light Street, Griffith, has been scaled down from permissible use to ensure the best outcome for the area.
“We are excited to be playing our part in the economic uplift a residential development of this scale can provide. This development will further support the Inner South community, particularly in the Manuka trader’s precinct,” Mr Morris said.
The prestige development will also create significant employment for the local economy, with up to 1,000 construction workers expected throughout the project. Further jobs will be created at the new medical centre at Renaissance.
Morris Property Group has already reported strong sales for the development.
“The sales achieved for Renaissance, even before we put a shovel in the ground, vindicates our long-held strategy of choosing the best locations to deliver high-quality new housing options to Canberrans,” Mr Morris said.
“The ACT is one of the most stable and reliable economies in the country and that has been clearly demonstrated by the demand for this project. We’ve already sold 65 of the 94 apartments in stage 1 and have strong interest in the subsequent stages despite not having gone to market with them yet.”
Renaissance will be built in five stages over five years, with stage one, on the 4500 square metre Block 23 bordered by Light Street to the south and St Paul’s Church to the north, due to be completed in late 2021. Its elevated location takes in views of Parliament House, Manuka’s trinity of churches and Mt Ainslie.
It is now 20 years since Morris Property Group first made its mark on Manuka with the development of Manuka Plaza in 2000. Along with new retail and food outlets, Manuka Plaza delivered additional parking for shoppers visiting the vibrant shopping and entertainment precinct, as well as loft apartments and ground-floor terraces.
For more information visit Renaissance.