Mixed-use development slated for Belconnen Markets precinct

A mixed-use development is set to expand the Belconnen Fresh Food Markets precinct and bring 169 new homes to the town centre.

A development application has been lodged with the ACT Planning and Land Authority for a project that will “enhance and reinvigorate the existing Belconnen markets precinct”, according to the submission.

It replaces an active DA for a large office building and car park on the 4818-square-metre block.

The application said “changing market conditions” spurred the new plans. The site has already been excavated.

While the new DA retains the retail and car parking components of the original application, the proposed offices have been scrapped in favour of a mix of one and two-bedroom apartments and three-bedroom villas.

The application said the $47 million development was designed to achieve “a very high level of environmental and social sustainability”.

McGrath Estate Agents will market the project, which agent Craig Chapman said would bring something different to Belconnen.

“It will be uniquely connected to the fresh food markets,” Mr Chapman said.

“At the heart of it, it’s a community rather than a tower full of boxes and numbers on doors.”

Bound by Belconnen Way, Lathlain Street and Ibbott Lane, it will expand the market’s offerings with a range of gourmet retail outlets.

Designed by Stewart Architecture, the nine-storey development will present as seven storeys in height.

One level of parking is underground and the podium level of the residences will consist of double-height townhouses and communal spaces.

Mr Chapman said residents would enjoy a colosseum-style outdoor theatre, rooftop gardens, a sports court and richly planted grounds.

Concierge services will offer another point of difference and include cold storage lockers, electric vehicles and bikes for residents.

One-bedroom apartments will be available for less than $300,000, with three-bedroom courtyard villas starting from $550,000.

The precinct will be developed by the Efkarpidis family’s Rock Development Group. The company also owns the Belconnen Fresh Food Markets.

The project is the latest in a string of mixed-use precincts slated for the Belconnen Town Centre.

Plans for a $500 million precinct are in the works for a 16,314-square-metre block next to the Belconnen Labor Club. It will be Canberra’s largest mixed-use precinct and house up to 745 dwellings.

A 24-storey, 300-unit development will also be built on Emu Bank, adjacent to Westfield Belconnen.