A greenfield site in the ACT suburb of Belconnen has been earmarked for a $91-million build-to-rent apartment complex.
The applicant, Cannes Property, has submitted plans to develop a 406-unit residential development on the site, dubbed Block 1 Section 51 Lawson.
The 9372sq m site is in the Lawson South Development precinct, owned in part by the Suburban Land Agency, north-west of the CBD.
According to a National Capital Design Review Panel report, the proposed two-building project would offer build-to-rent residential with a mix of one, two and three-bedroom apartments and 3600sq m of commercial area.
The site is undeveloped urban land, close to the University of Canberra Hospital, east of Lake Ginninderra foreshore, and adjoining Ginninderra Drive and Tenterfield Avenue, a series of main transport routes.
The buildings would be six and seven storeys, providing 40,396sq m of gross floor area.
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The mix includes 41 adaptable apartments and 25 affordable apartments.
Cannes has invested heavily in amenities for the apartments, with cinema rooms, podcasting facilities, piano and music rooms as well as meeting rooms planned.
Three basement levels would have 598 carparking spaces.
The project is being designed by Fender Katsalidis, no stranger to ACT build-to-rent projects after last month securing design approval for a $250-million project at 220 Northbourne Avenue.
The Australian Capital Territory Government has signalled its support of build-to-rent, saying that it would support such developments that include at least 15 per cent affordable rental tenancies.
The government has released land in Turner and has also committed to release a site for build-to-rent in the Gungahlin Town Centre in 2024-25 with a minimum affordable rental component.
Other projects are being spearheaded by the private sector, including a major 300-home build-to-rent project planned by Elanor Investors.
