Canberra's largest mixed-use precinct planned for Belconnen

Belconnen will house Canberra’s largest mixed-use precinct as plans are being finalised for a $500 million development overlooking Lake Ginninderra.

Geocon will build the residential and commercial precinct on a 16,314-square-metre block of land bounded by Cameron Avenue, Emu Bank, Eastern Valley Way and the Labor Club.

The site, known as Section 200, will have up to 745 dwellings and has been likened to Canberra’s NewActon precinct.

The developers bought the block for $22.1 million at an auction last June.

A development application is yet to be lodged with the ACT government but if approved, the project will be constructed in stages.

It will have to include 300 car parks leased back to the Labor Club to replace those on the site.

Geocon managing director Nick Georgalis said the company would start comprehensive consultations in a few weeks.

He said it was working closely with the ACT Planning and Land Authority in developing the plans to ensure the project was in line with the Belconnen Town Centre master plan.

“We are excited to be delivering something truly unique to Canberra,” he said.

“This will be a genuine mixed-use development with residential apartments, commercial offerings and a theatre, which will be at the heart of a vibrant creative precinct.

“That combination will activate the area for residents and visitors alike. It will make the most of the wonderful location close to the waterfront.”

Geocon’s 27-storey residential tower, Wayfarer, is being constructed across the road from the site and residents are due to move in early next year.

Section 200 is one of five Belconnen sites that will allow for heights up to 27 storeys, but Mr Georgalis said the height of the mixed-use precinct was still being considered.

Mr Georgalis said construction would commence in 2017 and take up to five years to complete.