Canberra’s largest mixed-use development in Belconnen has been given the green light from the ACT Government after itapproved the development application for Republic on Friday.
Designed by architects Fender Katsalidis – the masterminds behind NewActon precinct and Hobart’s Museum of Old and New Art – Republic will feature three state-of-the-art buildings including one that stands at 113 metres, making it the tallest building in the nation’s capital.
Geocon managing director Nick Georgalis said he is excited at the scope for well-planned development in town centres in the ACT.
“We’re delighted that the ACT government shares our vision on this project,” he said.
“No one can accuse Canberra of being boring or stuck in the past with this type of project going ahead.”
The $1 billion development will include more than 1200 residential apartments, a hotel and retail centre.
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Highlights of the precinct include terrace houses, an amphitheatre, Melbourne-style laneway stores, climate-controlled wine cellars, a wellness centre, “kids wonderland” and landscaped sky park with barbecue facilities.
Contemporary urban development Dusk is also within the Republic precinct.
Set on a 1.6-hectare site, Republic is centrally located in Belconnen’s CBD, bounded by Cameron Avenue, Emu Bank, Eastern Valley Way and the Labor Club. Geocon first unveiled plans for the development in late-2016.
Apartments in both Republic and Dusk have been listed for sale since mid-2017 with 70 per cent already sold.
Expressions of interest for stage two of the Republic precinct will open next month.
Construction on the development is set to commence immediately. It is expected to take 10 years until completion.
“The nation’s capital has changed today with this vision set to become reality, and it’s just a taste of things to come,” added Georgalis.
“It’s very, very timely with the rental crisis and our rapidly growing population.”