Construction giant Geocon has lodged plans for the next project in its Canberra property empire, a 520-unit luxury development opposite Glebe Park in the city centre.
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The development, which is on the old Bega Flats public housing site in Reid, will be built in two stages costing $163 million.
Geocon has previously outlined plans for the 248-unit “Metropol” development on the site, however is now gearing-up to spruik a new and separate project dubbed “Tryst”.
Planning documents lodged with the ACT government showed the mixed-use commercial and residential development would be completed in two stages, with a maximum building height of 12 storeys.
The first stage would construct 272 residential apartments in one building, while the second stage, understood to be the already-announced Metropol project, would result in 248 residential apartments across two buildings.
In addition, there would be 10 non-residential commercial units in the development.
The site is bordered by Cooyong Street and Ainslie Avenue and was sold to Geocon for $38.5 million in 2017.
One-bedroom apartments would account for 50 per cent of units in stage one and 60 per cent of units in stage two.
A small number of one-bedroom apartments would not meet the minimum dwelling floor space threshold of 50 square metres, with the smallest one bedroom unit 48 square metres in size, according to floor plans lodged with the ACT government.
“Dwelling sizes and layouts provide functional living spaces across the development,” read a planning report addressing the minimum floor area requirements.
Planning documents also showed the development would fall short of rules requiring 70 per cent of apartments to receive no less than three hours of daily sunlight during winter.
In stage one 32 per cent of apartments would not meet this rule, while in stage two 37 per cent of apartments would not receive three hours of sun per day, according to planning documents.
Knight Frank Town Planners, who prepared the report, said this would be mitigated by thoughtful design.
“All apartments are provided with balconies accessed from living areas and privacy is provided by suitable design and orientation.
“Accordingly, the proposed solar access is considered reasonable having regard to the listed criteria.”
Planning documents showed the two stages would be similar in design with slight differences.
“The proposed materials for the exterior of the building include lighter grey tones of precast concrete, bronze metal or metal-look cladding or painted finish, perforated screening and timber or timber-look cladding.”
The development would make the inner-city more vibrant, planners said.
“The development site is in close proximity of the Canberra CBD, directly adjacent to the Canberra Centre.
“The mixed use style of development will increase activity and vibrancy in the area and will become a future hub for daily activity with the presence of commercial areas.”
A traffic impact assessment prepared for Geocon estimated the development would increase peak hour traffic in the area by 219 cars.
The extra cars would increase average evening delays on Ainslie Avenue/Cooyong Street from 40 seconds to 47 seconds.
However, traffic consultants did not believe the development would have a major impact on traffic or parking in the busy city centre.
“There is adequate capacity in the surrounding existing road network to accommodate the traffic generated by the proposed development,” traffic consultants wrote.
Three levels of basement parking at the development would provide 827 parking spaces.
Consultations for the proposal close on August 27 and can be viewed on the ACT government’s planning website.
