The redevelopment of the former Red Hill public housing site is expected to begin later in the year after the ACT Government appointed a consortium comprising leading Australian developer Stockland and Canberra firm Doma as the successful tenderer for the project.
Brokered by the Suburban Land Agency on behalf of the ACT Government for a sale price of $50.13 million, the project would balance social, financial and environmental benefits for Canberrans, a Government statement said.
The proposed ‘village-style renewal project’ will be home to 252 dwellings, including 108 single residential dwellings, and up to 144 multi-unit apartments.
The 53,000 square metre site in the heart of Red Hill is surrounded by cafes, shops, leafy streets and boasts panoramic views across the city.
The Red Hill Precinct forms part of the Asset Recycling Initiative program and the public housing renewal program, with the relocation of tenants completed in mid-2017. Demolition commenced in July 2017 and ended last month.
Minister for Urban Renewal Mick Gentleman said the Precinct would uphold the strong heritage values of its surrounding neighbourhoods while also providing an innovative and contemporary option for people looking to live in the Inner South.
Street names were formally announced in October 2017, continuing the street name theme of Ships and Explorers in the wider Red Hill suburb.
“Doma have proven themselves as an organisation who have a genuine interest in the social and cultural aspects of developing land in Canberra. Likewise, Stockland is an Australian industry leader in developing valuable community spaces. To have Stockland looking at Canberra as a place to develop land is a good indication of how strong the market is here,” he said.
Stockland’s Managing Director and CEO, Mark Steinert, said he was delighted that Stockland had been awarded the opportunity to deliver on the Government’s vision for the prestigious Red Hill project.
“I’m pleased that Stockland has the opportunity to work with the Doma Group on this city-defining development. We pride ourselves on delivering some of Australia’s most liveable homes in the best residential communities, and we’re excited to be re-entering the Canberra market with this opportunity,” he said.
“The ACT Government’s comprehensive work on the precinct’s Estate Development Plan (EDP) and extensive community consultation have laid the groundwork to bring the vision to life.”
Doma Managing Director Jure Domazet said he was looking forward to collaborating with Stockland in providing significant housing choices for existing and prospective Inner South residents.
“This development is an important milestone in the rebirth of the Red Hill shops precinct, creating a new, low-density neighbourhood village with high-quality architecture capitalising on the views and open spaces.”
The Government statement says the finalised Red Hill Precinct is the result of comprehensive engagement with the local community.
“Since this project was conceptualised, we have been in regular contact with the community to ensure this work would meet their expectations,” Mr Gentleman said.
“This is a great example of the ACT Government speaking to the community, listening to what they have to say, and presenting a fantastic outcome which we can all be quite proud of.”
The tender process drew interest from across Canberra, throughout Australia, as well as internationally.