Construction is anticipated to begin this year on a new 323-dwelling project in Gungahlin, led by Core Developments.
A development application has been submitted for the proposed Nue project, featuring a mix of 87 townhouses and 236 apartments across two blocks on the edge of Gungahlin Town Centre.
A 680-square-metre commercial space and a rooftop garden is also included in the plans.
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The subject site, blocks 5 and 6 section 249, is a greenfield area bound by Camilleri Way and Manning Clarke Crescent and is located about 300 metres from a light rail stop.
A mix of units and loft-style apartments have been proposed, as well as two- and three-bedroom townhouses. The units are currently on the market, with one-bedroom units starting at $400,000 and three-bedroom units starting at $830,000.
A small number of 'cold shell' apartments will also be available to buyers, offering them a chance to choose their own layout. Meanwhile, 57 dwellings will be available for purchase through the Suburban Land Agency affordable housing program.
A spokesperson for Core Developments said about 50 per cent of units have sold since they were released in December.
"At present we're only selling the units, however in these sales alone we've seen about a 50-50 split between owner occupiers and investors, with owner-occupiers including a mix of first home buyers and downsizers," the spokesperson said.
"We expect the ratio of owner-occupiers across the development to increase once we release the townhouses and 'cold shell' units to the market, as we generally see more owner-occupiers buying these types of dwellings."
Canberra architecture firm Judd Studio has designed the project with a focus on courtyards, walking paths and a neighbourhood feel. The precinct design takes inspiration from the 'walk streets' of Venice Beach, Los Angeles, a series of pedestrian-only inland walkways.
The project will comprise two apartment buildings, a 12-storey tower on the western boundary, fronting the proposed linear park, and a seven-storey tower at the Camilleri-Manning Clarke corner. Townhouses will be located in between the two buildings.
Core Developments intends to commence construction in mid-2022 for completion in late 2024. The total cost of works for the project is estimated to be more than $61 million.
Gungahlin Community Council president Peter Elford said while there was some broader concerns about the amount of residential developments in the area, he was pleased with the level of consultation on the Nue project.
"The general concern in the Gungahlin community is the amount of residential development going on in the town centre," he said.
"That's not to say people are opposed to residential development in the town centre, it just needs to be balanced with commercial, retail, community and entertainment."
Mr Elford said the main concern from local residents was ensuring the development contributed back to the town centre and was mindful of the public park that is expected to be built next to the development.
In response, the layout of the development was amended to ensure better distribution of building heights. The developer also noted the commercial space is intended for a family-friendly hospitality business to service the adjacent park.
"The sort of consultations we're looking for from everybody - government and industry - is early and meaningful and I think in fairness to Core, they were early and they took on a number of concerns we'd raised and have been responsive," Mr Elford said.
Core Developments are currently developing the Boulevard complex in Denman Prospect, which will include 410 apartments and rooftop amenities.
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