Released 25/07/2017
The renewal of Northbourne Avenue has taken a major step forward with the sale of nearly 25,000 square metres of light rail corridor land to JWLand for $45 million, Minister for Urban Renewal Mick Gentleman said today.
After Canberrans voted for light rail for a second time in the 2016 election, the Government is working to ensure the community realise the economic benefits from the project such as the renewal of the transport corridor. The sale of Lyneham on Northbourne by tender will support a mixed-use development with up to 500 new dwellings and continue the rejuvenation of the entrance to Canberra.
“The strong result from the sale of this land is a sign of confidence in the ACT Government’s vision to create an urban corridor that will help accommodate the growth of Canberra as a modern, lively and sustainable city that maintains its unique bush capital character,” Minister Gentleman said.
“Urban renewal in the city and along our main transport corridor is a core priority for the government and the redevelopment of this key area will play an important part in that transformation. The new city renewal authority, which comes into effect on 1 July, will be instrumental in driving the renewal along this major public transport corridor.
“This site is close to Dickson, the CBD and is in a perfect position to take advantage of the fast, reliable and comfortable public transport that light rail provides. It is in an established suburb close to shopping, universities, employment hubs and first-class recreation facilities.
“The new owner of Lyneham on Northbourne has an exciting opportunity to deliver a high-quality, mixed-use development that allows for more residential, retail and commercial activity on our major transport corridor,” Minister Gentleman said.
The 450 metre stretch of Northbourne Avenue frontage previously accommodated outdated public housing. Tenants in these outdated buildings have been relocated to new, modern housing as part of the single biggest renewal of public housing in the ACT’s history.
JWLand is the developer undertaking the Campbell 5 development and Section 52 in Braddon.
Canberra is expected to grow to 421,000 people by 2020 and urban renewal is helping provide homes to accommodate this growth.
“For Canberra to grow as a sustainable city, we need to create opportunities for people to live near great public transport and close to where they work and socialise,” Minister Gentleman said.
“With its proximity to the city, Dickson and light rail, this development will play an important role in shaping Canberra into a more liveable, sustainable and connected city.”
Lyneham on Northbourne is the second sale of government land along the light rail corridor as part of the Federal Government’s asset recycling scheme.
A slightly larger block on the opposite side of the avenue, Dickson on Nortbourne, sold for $40 million at auction in August 2016.
Through the sale of these sites, and other ageing government infrastructure, the ACT Government is set to receive an additional $67 million from the Federal Government towards stage one of Canberra’s light rail network.
The site was formerly home to the Owen, Lyneham and De Burgh Flats public housing buildings, some of which have been retained as heritage buildings. The ACT Government’s $550 million public housing renewal program is building 1,288 new public housing dwellings to significantly improve the living conditions of many of the city’s most vulnerable citizens.
- Statement ends -
Mick Gentleman, MLA | Media Releases