Work has started on a new residential development in Campbell set to help transform Constitution Avenue under the Griffin Legacy.
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The Creswell Residences will consist of 52 one, two and three-bedroom apartments, commercial space, and the new Canberra base for the project's developers Hindmarsh.
The sod was turned for the project on Thursday.
Hindmarsh will also soon begin the redevelopment of the RSL national office on Constitution Avenue following the approval of the plans by the National Capital Authority.
The Creswell has proved a popular prospect for investors and live-in owners with more than 80 per cent of apartments now sold off the plan.
The project has been designed by Antoniades Architects and will feature a simple, modern and distinctive design reflecting its corner position.
Hindmarsh chief executive officer Darren Dougan said the strong sales result for the Creswell Residences gave the company the confidence to progress the redevelopment of the RSL.
He said it was clear that people wanted to live in the area.
The RSL development, which has been in the pipeline for about five years, will include about 174 residential apartments and a separate building for the new headquarters.
Independent Property Group chief executive officer John Runko said there had been a good mix of buyers into the Creswell complex so far and the company was pleased with the progress.
He said it would set a new standard for lifestyle living on the fringe of the city being close to amenities and the lake.
“This will be the first of a whole transformation of buildings along this area, this place will be unrecognisable in five years' time,” Mr Runko said.
“It will play a big role in bringing the Burley Griffin vision to reality.”
ACT chief minister Katy Gallagher said the progressing of the development represented a sign of confidence in the Canberra economy.
The Creswell development is across the road from the ACT government's Campbell Section 5 project.
Work began on the 6.4 hectare site at the end of last year.
When completed the site, on the corner of Constitution Avenue and Anzac Parade will house about 500 residential units, a hotel, and commercial and retail developments.
