Minister Barr: CBR’s urban renewal takes shape with first sale under asset recycling scheme
- Written by ACT Government
Released 28/11/2015
The Currong and Allawah flats in Braddon have today been released for sale by the government under its public housing renewal program and the National Partnership Agreement on Asset Recycling.
One of the key priorities of my government has been urban renewal – ensuring we grow into our potential as a city while still maintaining everything that is great about the Canberra of old. The sale of the site marks the beginning of one of the city’s biggest urban renewal projects – the revitalisation of the Northbourne corridor.
The ACT Government, though participation in the Asset Recycling Scheme, will receive up to $60 million from the Federal Government to reinvest in the Capital Metro project. In doing so, the government is also renewing Canberra’s main entrance to the city and renewing our ageing public housing stock. This is the first sale under both the public housing renewal program and the Asset Recycling Scheme.
At 25,630sqm, the site can yield up to 515 new homes in buildings from three to 12 storeys high, combined with a potential commercial space of approximately 4,100sqm.
The Currong apartments are currently in the process of being demolished and housing tenants will be rehomed from Allawah over the coming 12-18 months before being demolished. The buildings were built in the 1950s.
The sale of Allawah Court will not impact on the current tenants who, like all those in identified public housing sites, will be assigned appropriate new homes under the housing renewal program.
This exciting development opportunity will breathe new life into our CBD. As Canberra grows, urban renewal projects close to the city will be a high priority for the ACT Government to ensure we remain one of the most liveable cities in the world.
The sale will be via restricted auction on 10 February next year. A video about the site’s attributes is available on the LDA’s website www.lda.act.gov.au/en/S-52
For more information contact Colliers International.
- Statement ends -
Section: Andrew Barr, MLA | Media Releases
