Plans for a major apartment precinct dubbed “the Barracks” on City Hill in Canberra has moved ahead, with its developer Morris Property Group planning to launch the first stage of the $500 million development this month.
The first stage of the mega-project, which will transform a 2.6-hectare site formerly used as a car park, has been named “One City Hill”. Comprising 313 apartments across 9-storeys and six retail tenancies, the first stage has a construction value of $78 million.
Larger plans for the site includes up to 1,300 apartments across four buildings with a mix of retail and commercial office. Morris Property Group director Barry Morris told The Urban Developer earlier this year that the project will revitalise a currently underutilised part of the city.
“Including a mix of residential apartments, retail and commercial office buildings. We are excited stage two of the Canberra Light Rail is proposed to pass the site,” Morris said.
The project, formerly dubbed Section 100, is located between London Circuit and Vernon Circle in inner-city Canberra.
The Barracks will be developed over four stages, with the project marking architecture firm Fjmt’s first residential project in Canberra.
“Fjmt took [the] brief and ran with it,” Morris said.
“The outcome is a luxury building with all the amenity that comes from a larger development – including a half acre of open space, infinity edge pool, theatre and gym – with the privacy and ease of living of a much smaller one.”
The well-known site was first acquired by Mirvac for $93 million from the ACT government in 2007, with Morris Property Group snapping up the site for $85 million in a deal that settled in June.
Colliers International is managing the sales of the project.