The site, which is not far from Lake Burley Griffin, will eventually be home to a park, offices, a hotel and 500 apartments.
(The ACT government has sold a $66 million piece of prime real estate in the city to developer Capital Property Group .
Bought by Capital Property Group for $66 million from the ACT government's City Renewal Authority, the site will hold six buildings, according to the plans, four of which are intended to be residential.It will also be on the doorstep of new light rail stops once that project is completed. As part of the development, 76 apartments — or 15 per cent of the development — will be set aside to be used for affordable rental dwellings.
Mr Snow said while the development was currently in its early stages of planning, that space might include a water play area, trees, grass, a sculpture and hard-landscaping such as concrete.Despite some ongoing criticism of increasing housing density in Canberra, Mr Snow argued the city was the ideal location for apartments."We think it's going to be certainly very sought after location and site.
"The major transformation that is going to occur is that the human population will significantly outnumber the rabbit population in this part of the CBD," he said.
Canberra Local News Local ACT Government Lake Burley Griffin Capital Property Group Chief Minister Andrew Barr London Circuit Richard Snow West Basin National Capital Authority City Hill Development
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