Macquarie apartment boom continues with Bulum-led development at Jamison

Macquarie’s apartment boom is set to reach new heights with another 80 units slated for Jamison Centre.

Banksii, a four and five-storey complex earmarked for Bowman Street, could also bring a dose of Braddon to the Belconnen shopping precinct, with the Canberra developer behind the new project largely responsible for Lonsdale Street’s transformation.

The Bulum Group has lodged a development application for the $18 million-plus Jamison project with the ACT Planning and Land Authority.

If approved, a Fitness First gymnasium at 15 Bowman Street will be demolished to make way for 32 one-bedroom, 38 two-bedroom and 10 three-bedroom apartments, which are already listed online and pending DA approval.

Banksii, which has been designed by Nathan Gibson Judd Architect, will also include a shared courtyard and one level of basement parking for 130 cars, plus storage.

Developer Nik Bulum said the “boutique” development would appeal to a wide-range of buyers, including downsizers.

“A lot of this area has an older population that wants to downsize in the suburb,” Mr Bulum said. “Those people have lived in the area all their lives and are used to their spot.”

It’s a demographic creating demand for a number of similar projects underway in Macquarie, including the $30-million Parc development released in August, which will bring more than 70 apartments to the centre, plus 1000 square metres of ground-floor retail space facing Jamison Plaza.

Bowman Villas, a 26-townhouse project nearby, is nearing completion, while the construction of another 23 townhouses along Redfern Street is expected to begin in late 2017 or early 2018.

Mr Bulum said he expected the jump in higher density living in Macquarie to strengthen business in the area and increase mid-week foot traffic.

“[Banksii’s] position is a one-minute walk to the shops,” he said. “It’s conveniently located close to bus stops and all sorts of services.”

He said the pricing of his apartments would also appeal to first home buyers trying to get a foot on the property ladder.

If approved, construction will begin late next year, with the project expected to take 12 months to complete.

The latest complex isn’t Mr Bulum’s first in the region, with his group also developing the Malmo apartments and hotel in nearby Bruce.

But the Jamison project is a step away from his usual haunt of Braddon, where his company has developed a number of mixed residential and commercial projects including Yamaroshi, Palko, Nibu and Branx.

Earlier this year Mr Bulum also snapped up Canberra City Bowling Club which he will transform into a two-storey boutique hotel with a restaurant, day spa and large function space.

He said his latest project in Macquarie would exude a “classic, contemporary” character, similar to his Braddon buildings.

Timber floors, double glazing, wall ovens and designer bathrooms will be among its features.

Although the five-storey height clashes with the Macquarie Precinct Code, the extra floor has been granted “in-principle support” from the Planning and Land Authority on the basis the development does not exceed 15 metres.