The ACT government has sold the land south-west of City Hill to Capital Property Group for $66 million, where a range of residential and commercial spaces, affordable rental accommodation and green space is planned.

The land’s availability is the result of the $100 million heightening of London Circuit to allow Stage 2a’s light rail extension to join Commonwealth Avenue. The land was sold through a public tender under the auspices of the ACT Government’s City Renewal Authority.

The government says construction will support about 800 jobs over five years, and eventually house about 1000 residents, with 76 of the 502 dwellings designated as affordable rentals. Subject to obtaining necessary approvals, construction may begin in 2026, with completion in stages expected between 2028-2034.

Design features include:

• Integrated mixed-use precinct configured around a new park.
• Four residential buildings, a high-end hotel, A-grade office building and ground-floor retail including cafes, restaurants, and a convenience supermarket.
• 502 homes, including 15 per cent affordable rental dwellings.
• A large city park, including landscaped green spaces, public art, water play and dining.
• Carbon neutral precinct.

Following completion of the sale, the draft design will proceed to National Capital Authority works approval, which will include a public consultation process. The land was first advertised by public tender in May 2023.

Richard Snow, group head of Property, Capital Property Group, says: “The project will include six distinct buildings, each with their own architectural language and style. We purposely commissioned three world-class architects to achieve this variety and create a vibrant, distinct precinct.

“The heart of the development will be the large urban park where all the various buildings will present to. The mix of different uses including a high-end hotel, retail and commercial space and large residential component, will complement each other to create maximum vibrancy and activity around the clock.”