Geocon has "topped out" the fifth and final tower of its Republic Precinct, with the Canberra developer hinting another Belconnen project could be on the cards.
A symbolic tree was placed atop the building, dubbed Nightfall, to mark the construction milestone on Tuesday.
With the structure now complete, work will begin on fitting out the 334-apartment tower before residents move in during the second quarter of 2022.
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Once complete, it will include one- and two-bedroom apartments, alongside 17 commercial spaces on the ground floor.
Nightfall is the final stage in the 1200-apartment Republic Precinct, which began construction in mid-2018. The precinct is already home to some 3000 residents across the Dusk, Republic and High Society buildings.
Geocon managing director Nick Georgalis said despite the "naysayers" the entire development is nearly sold out, with just 100 apartments now available.
"It was one of those projects that people really doubted many years ago, [people questioned] whether it will ever get delivered [and] 'can the market absorb it?'" he said.
On the back of such strong take up, Mr Georgalis said the developer may look for future opportunities in the area.
"We're very focused on having another pipeline project in Belconnen," he said.
Across the precinct, all one-bedroom apartments have sold, leaving just two- and three-bedroom options for buyers to choose from.
Mr Georgalis said the strength in sales demonstrated the high demand for property, particularly apartments, in Canberra's town centres.
"What it really proves is that we could have delivered double the volume in the same period to actually meet the demand," he said.
Geocon general manager Damon Smith described the precinct as a "vertical suburb".
"I think it's not only changed the landscape of Belconnen but added a lot to the economy by adding a couple of 1000 people into the area ... it's a bit of a gamechanger," he said.
Republic Precinct is home to Canberra's tallest building with one of the High Society towers coming in at 113 metres tall.
The 'topping out' ceremony comes just one week after Geocon celebrated the start of works on its Wova development, a 797-apartment mixed-use precinct in Woden.
In the last week it was also revealed Geocon failed to meet specific milestones on the Kingston Arts Precinct, leading the ACT government to cancel its contract with the developer.
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