Construction starts on 99-unit development in Woden

Construction has commenced on a new 99-unit development in Woden, which developers say will become a “shining new centrepiece” for the rejuvenated town centre.

The Idalia complex is the third stage of the Woden Green, an estate that will eventually house about 1500 dwellings.

The estate comprises eight development sites and Idalia will be the third of at least six residential developments. The two sites to the north of Woden Green are commercially zoned and suitable for either commercial and residential development.

Hindmarsh ACT state manager of development Brett Smith said the construction of Idalia coincided with the town centre’s broader revitalisation.

“Through its masterplan for the area, the ACT government recognises the capacity for the Woden Green precinct to complement and connect Woden Town Centre to the green open spaces of Eddison Park,” Mr Smith said.

“Idalia has been designed to respond to and facilitate that visual and functional connection.”

Live-in owners

The development will feature a trio of three-storey buildings with a mix of 27 one-bedroom and 72 two-bedroom apartments, priced from $299,900 to $474,900.

Independent Property Group agent Mark Wolens said about 40 per cent of the development had already sold and the buyers were predominantly live-in owners.

“It’s a premium product with double-glazed windows and quality AEG appliances,” Mr Wolens said.

“It’s also in the middle of the Woden Town Centre. It’s one of the few places in Canberra where you can walk out the front door to a restaurant or the cinema, or you can have a beer and you don’t have to drive home. Idalia offers all of that for a reasonable price.”

Mr Smith said he believed Woden was an area capable of capital growth.

“Projected employment growth in Woden Town Centre, combined with the economic and infrastructure investment that’s taking place, all point to the potential for capital appreciation in property values in the area,” Mr Smith said.

More than 1000 Access Canberra and administrative health staff are in the process of moving to the town centre.

Two major Woden assets hit the market last month; the Medibank building on Bowes Street and Aviation House on Furzer Street.

Rich history

Woden Valley Community Council president Martin Miller said he hoped these sales would encourage further development in the town centre.

Mr Smith said infrastructure upgrades, such as the new bus interchange, strengthened capital growth prospects for Woden property investors.

“Woden has a rich history and its progressive urban renewal, with new cafes, restaurants and retail amenities, promises to raise the area’s profile in a contemporary, modern context,” Mr Smith said.

“Woden Green represents a new dimension in urban living in one of the most desirable town-centre addresses in Canberra and Idalia will be at the forefront of Woden’s rejuvenation.”

The apartments were designed by Scott Carver Architects with a focus on solar orientation and energy efficiency.

Mr Smith said each apartment would include high-quality fittings and finishes, sun-filled living spaces and designer appliances.

Construction commenced in April and will take about 13 months to complete. It is anticipated that the first residents will move in mid next year.