A group of businesses fear the ACT government's 25-year plan to redevelop the Woden town centre into something resembling Braddon or New Acton will not do enough to counter stagnating employment and decay.
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Shane Quinn, the director of property management company Quintessential Equity, said Woden would become a ghost town if the government continued to let dwindling employment rip the heart out of the town.
Mr Quinn said his company bought a 12,500-square-metre office on Bow Street, believing the town would become an important economic centre, but had watched it sit vacant as public servants face job cuts and relocations.
"We're not scared to invest in Canberra, but we are very worried about Woden. Of all of our assets across Australia, its Woden we are most worried about," he said.
"Now that we've been there a while, I've become pretty concerned about the decay that is settling in."
Minister for Planning Mick Gentleman, who launched a draft plan for redevelopment in late January, said the town centre could become a major employment and shopping destination with the right investment.
A key component of the plan is to improve the bus interchange and increase the retail space of Woden Plaza by 20,000 square metres, with additional parking.
The draft report found the 14,500 workers in the town centre – mostly public servants and retail staffers – tended to leave the area after work, which resulted in minimal options for generating a night economy.
Mr Quinn welcomed the government's decision to invest in Woden, but stressed creating jobs and supporting local businesses should be the first priority of any plan.
"The heart is being pulled out of Woden, with large tranches of employment being moved from the town centre, which has resulted in a lack of daytime business," he said.
"The amenities across the whole township have been high impacted by the decline in employment, which is making it a less desirable place to visit through the day.
"If we don't correct things and on employment in Canberra, then Woden will die."
Growth in the Woden Valley area has been limited during the past 10 years, with the population increasing by less than 1700 people between 2003 and 2013.
"However, based on population projections, the population in the centre itself is expected to more than double by 2032," the report said.
Mr Quinn said he and other businesses in the area had formed the Woden Group to lobby the government to focus on employment and redevelopment.
"We started the Woden Group about nine months ago and have banded together with business leaders in the area and our motivation is to turn attention to the issue," he said.
"Gungahlin has been very successful in lobbying the government and will be well supported, with light rail running to them, and they do have a focus on employment there."
Formal members of the Woden Group include the Hellenic Club, the Canberra Tradies Club, Mirvac Investment, Colliers International and Cromwell Property Group.
Mr Quinn said the group was preparing a submission to the ACT government asking it to focus on increasing employment.
"They are trying to drive residential development, but without jobs, no one can actually be there, so they have got to stabilise the employment and keep people there, or it will become a ghost city," he said.
"They're trying to drive change, but we've got to drive employment back into Woden."
Mr Gentleman has invited the public to meet government planners over the coming week to discuss the draft master plan.
"These sessions include large display posters, which will offer the community the opportunity to see and discuss the draft master plans in detail with the planners that have worked on them," he said.
