Business as usual: Pandemic doesn’t deter Canberra residential developers from branching into tourism and commercial sectors

Many industries were hard hit during the downturn of the economy brought on by the pandemic and the commercial and tourism industry felt the effects. However, for some developers it’s still business as usual.

There are many developers in the capital that have branched out from residential builds, including Molonglo Group with the NewActon precinct, JWLand with the development of Campbell 5 and Geocon with its Midnight Hotel in Braddon, just to name a few.

And this October, Geocon is set to open the doors to Abode Belconnen in its Republic precinct in Belconnen.

In 2010, it established Iconic Hotels, which specialises in hotel operations and management, as well as other endeavours.

Iconic Hotels general manager Rien Donkin said its parent company and Iconic Hotels worked hand-in-hand.

“What I think is an important point for Canberrans is that Geocon and Iconic Hotels are connected to the communities [they’re] located in,” Mr Donkin said.

Retailers in Geocon’s Republic precinct include Woolworths Metro, which is now open, and No.10 Restaurant and Bar, which is expected to open in October. Eateries Tracento and BZB are also expected to open in following months.

“The hotel adds a bit of life to a precinct but us having a solid connection to our developments for years to come is quite important to the outcome of Republic,” Mr Donkin said.

Despite the slowing of Canberra’s construction industry in the wake of the pandemic, Geocon hadn’t let that deter its plans to open the venture.

“When the pandemic hit earlier this year, it disrupted our whole day-to-day operations … the market got a lot smaller because people weren’t allowed to travel or were discouraged to travel. We adjusted our expectations and our business models,” Iconic Hotels marketing and communications director Jasmine De Martin said.

“We were always proceeding to open up the hotel, irrespective of the pandemic … So, it’s business as usual.”

JWLand project marketing manager Nick Babic said merging residential living with commercial businesses provided many benefits to residents, more so now than before as a greater number of people worked from home.

“The most obvious benefit is convenience – a huge drawcard for time-poor professionals,” Mr Babic said.

“From the moment you leave the apartment, you can be steps away from the local cafe, hairdresser or gym. You will spend less time commuting and have more time to enjoy other aspects of life.”

Some retailers in the Campbell 5 precinct include Club Lime, Hiit Republic, Kiitos Cafe, Pedlar, Jone + Me hairdresser and the Mrs Fray bridal wedding dress store.

Mr Babic said the advantage of creating a mixed-use precinct was that the developer would have more control in creating a “liveable and sustainable community”.

The ACT Chief Minister is expected to outline measures in the ACT budget on Thursday that will would support job growth across a number of industries in the ACT including construction, housing, tourism and hospitality.