Developer Barry Morris has named his newest apartment precinct on City Hill in the city centre "the Barracks".
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The proposed development on section 100 on London Circuit near Edinburgh Avenue is yet to have a works approval application lodged. It will see up to 1200 apartments across four buildings take over the car park formerly known as Block 12 Section 63.
Mr Morris said the Barracks, between London Ciruit and Vernon Circle, was the largest project for the Morris Property Group in its 40-year history. He planned a supermarket, and said the 1500-square-metre supermarket would likely attract interest from major retailers.
Mr Morris was speaking on Tuesday at the topping-out ceremony for a separate development in the city - the Highgate apartments near the casino, which are expected to be completed at the end of the year.
Topping-out ceremonies mark the milestone of a building reaching its highest point during construction.
"Every project is always exciting, every project has its own story and its good for a project to reach this milestone," Mr Morris said.
"There's still six months to go to finish the building but it's always a proud moment to get a project to this stage."
In January, the group lodged plans for another 18-storey apartment building, the same height, to join Highgate. Park Avenue Canberra will have ground-floor commercial space and apartments above and is the second stage of the precinct.
Morris Property Group split the site that housed largely vacant office buildings into two development parcels in 2015.
At the topping-out ceremony, Mr Morris launched the consultation period for Section 100.
"It is a very exciting project, it's our largest project in our 40-year history so it's nice to get it off the ground," Mr Morris said.
"We only settled on it on the 15th of June but we've been able to hit the ground running and start with our community consultation this afternoon."
The Morris property group settled for the undeveloped 2.6-hectare site, which has been used as a car park for a decade, for $85 million.
The first stage of the development will be broken down into four parts at eight storeys high, each with about 90 units. There will also be 500 square metres of retail space, public car park for 750 cars plus parking for the associated units.
Also part of the agreement, Morris Property Group must extend Edinburgh Avenue to Vernon Circle, the same way Constitutional Avenue meets with Vernon Circle on the opposite side.
The second stage will focus on the corner of Edinburgh Avenue and London Circuit and will see an 18-storey building with 350 units and 700 square metres of retail space. It will also have three levels of basement car parking just for residents.
Mr Morris said the third and fourth stages had the potential to be either residential, with about 250 units in each, or commercial office buildings of about 20,000 square metres.
