Developer Geocon has sealed the deal on the Kingston Arts Precinct, after signing an agreement on the project in partnership with the ACT government.
The $78 million urban renewal project, which state government describes as 20 years in the making, forms part of the delivery of Kingston Foreshore and will see an underutilised precinct adjacent to Lake Burley Griffin transformed into a new arts and cultural hub.
This includes $50 million for purpose-built art facilities and accommodation for visiting artists to the precinct.
Fresh off the back of working on creative spaces such as Hobart's Mona Museum and the New Acton Precinct, the developer has engaged Architect Fender Katsalidis, along with landscape architects Oculus on the project.
“We have taken a huge step towards making the Kingston Arts Precinct a reality, with contracts now officially signed to bring this project to life,” Geocon founder Nick Georgalis said.
“The Kingston Arts Precinct is the most highly anticipated development Geocon has ever set out to achieve.”
ACT government will own the project, which will now enter the community consultation stage.
Arts ACT and local art organisations who will move into the precinct once completed, including the Canberra Glassworks, Megalo, M16 Artspace, Craft ACT, Canberra Contemporary Artspace, PhotoAccess and ArtSound.
Minister for Urban Renewal Rachel Stephen-Smith said the Suburban Land Agency and artsACT will work closely with Geocon.
“To ensure arts organisations, stakeholders and the community are provided the best possible opportunity to engage in the design process.”
The development is expected to be completed in 2022-2023.