In car-dependent Canberra, it was only a matter of time before car stacking arrived.
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Fronting Kingston Harbour on the $1 billion foreshore development, car lifts will enable apartment owners to park two cars in one space.
Developer Terry Shaw said the German technology, which is common throughout Europe and used in Sydney and Melbourne to maximise parking space, will be widely adopted in Canberra.
The car lift, and technology that recognises number plates and limits lighting to a single car's space instead of an entire parking level, are among the features that will reduce annual body corporate fees by 30 per cent according to the waterfront developer, ENGLOBO.
National car sharing firm GoGet will also operate from the new apartments, taking more pressure off parking space.
Solar power and smart metering, which save on energy costs, are some of the triple bottom line measures used to meet social and sustainable goals.
Work on the $100 million Element project, comprising 140 apartments - including studio, one and two-bedroom units and $900,000 apartments on two levels - will begin early next year and take about 18 months to complete.
A former industrial suburb and, in recent years, a lakeside paddock, Kingston's north-east edge is filling with penthouses along a new promenade. It will feature several mixed-use developments with restaurants, shops and professional firms with boardwalk access. Mr Shaw said the promenade would not be exclusive, and would be enjoyed by all Canberrans.
The Deputy Chief Minister, Andrew Barr, said Kingston had undergone an amazing transformation, and developers with an eye on triple bottom line objectives will continue to drive its sustainability.
Mr Barr said the government and Land Development Agency's heavy investment in the suburb will bring people closer to services and slow urban sprawl.
He would like to see a ferry service cross the lake from Kingston Harbour to City West's urban area.
The Opposition Leader, Zed Seselja, said ENGLOBO, which formed in 2009, had been a quick success at Kingston.
''What we are seeing is an example of what can be achieved when we enable private enterprise to thrive.''
Mr Seselja said the opposition's bipartisan approach at Kingston foreshore had smoothed the way for development.
Mr Seselja said businesses invested and took risks in development, and it was up to government to smooth the way ahead for them. He said the opposition's bipartisan approach was an appropriate response.
''We don't use our lake well enough in Canberra, in my opinion. This is something we need to do better,'' he said.
The developers said the new apartments will feature a communal cinema, oversized communal corridors and an opportunity for sharing bikes.