Canberra-based developer Geocon’s $1 billion mixed-use precinct in Belconnen has been given the green light by state government.
Set to become Canberra’s largest-ever development, the project includes three towers with the tallest reaching 27-storeys.
Delivered over three stages, the project, known as “Republic”, will comprise 1213 residential apartments and terrace houses, a hotel precinct, an amphitheatre and Melbourne-style laneway retail.
Geocon acquired the 16,314sq m block of land in mid-2015 for $22.1 million.
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Architect Fender Katsalidis will design the $1 billion development. The firm are known for Hobart’s MONA, Melbourne’s Eureka Tower and Canberra’s NewActon cultural precinct.
Geocon managing director Nick Georgalis said the 113-metre tower will look completely different to anything else in Canberra, with a 100 per cent glazed façade.
“We’re delighted that the ACT Government shares our vision on this project, and of the scope for exciting, well-planned development in town centres,” Georgalis said.
“No-one can accuse Canberra of being boring or stuck in the past with this type of project going ahead.”
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Located on the corner of Cameron Avenue, Eastern Valley Way and Emu Bank in Belconnen, construction on the $1 billion tower will begin immediately.
Stage one has 70 per cent sold out and expressions of interest for stage two are invited come April.