Developer Geocon has released plans for a new residential complex at 70 Allara Street in Canberra City, which would comprise about 350 apartments once complete.
The developer purchased the 7641-square-metre site, formerly a defence training depot owned by the federal government, in 2020 for $24 million.
The community has been invited to have their say on the project before a works approval is lodged with the National Capital Authority, which governs the area also known as block 16 section 10.
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Plans include demolishing all existing structures on the site to make way for three buildings up to a maximum of nine storeys each.
The ground floor of the development will house commercial outlets, with the residential units to span the lower ground floor level and above.
Plans also include communal rooftop gardens and shared amenities for residents.
Nick Georgalis, founder and managing director of Geocon, expected the apartment complex would meet the needs of a "starved" residential market in Canberra.
"Like with all communities that are hungry for property to live in as a necessity, it's much-needed and is certainly going to be in hot demand, as is every project at the moment," he said.
"I don't think there's a project in Canberra or Australia that isn't in hot demand. So government approving these types of projects and us delivering them is much needed for the community."
While the project is yet to be named and the final designs are still a work in progress, the latest renders show curved edges and green spaces in between the three buildings.
"There are curved elements of the buildings that create an interesting facade," Mr Georgalis said.
The development is expected to include a mix of unit sizes, including some penthouse apartments.
"It'll certainly appeal to the owner-occupiers and, of course, to the investors as does everything in Canberra," Mr Georgalis said.
Purdon Planning has been engaged to conduct community consultation for the project, before final plans are submitted to the National Capital Authority.
"We are planning to have that submitted in the next few months, certainly in the first quarter or early second quarter [of 2022]," Mr Georgalis said.
The first release of apartments is expected by mid-2022.
Planning documents state a lease variation will be sought separately to permit the proposed number of residential units.
The documents also state the design "seeks to contribute positively to the urban context through high-quality design and pedestrian-friendly street level activation". The next public consultation session is scheduled for January 20.
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