Developer Revealed for ACT Growth Zone Final Stage
The ACT Government is going straight to density on the outskirts of Canberra, appointing TP Dynamics to deliver the final phase of Denman Prospect.
The Canberra-based developer will build up to 2950 high and medium-density homes in Stage Three of the precinct, 15km west of the CBD at Molonglo Valley.
The Suburban Land Agency put the final 40ha englobo stage, across from “Canberra’s future sixth town centre” to tender in September.
Molonglo Valley was gazetted in 2010. The district is projected to house nearly 70,000 people by 2050, making it one of Canberra’s fastest-growing regions.
TP Dynamics plans for construction to start in 2027. The development will be a gas-free community comprising residential, mixed-use community facility components as well as open spaces.
A primary school and playing field are also planned for the stage.
The residential mix includes 144 affordable, 207 community and 60 public homes.
Unlike many staged releases, the ACT Government sold the entire site as one package, giving the successful bidder control over how the development unfolds.
Builder-developer TP Dynamics topped out construction on Crystalbrook Aurora near Garema Place in the Canberra CBD last year.
The 10-storey hotel will comprise 225 rooms and suites as well as a rooftop European restaurant and ground-floor commercial spaces and is expected to be completed in 2027.
TP Dynamics, led by Tony Pan, is also working on the Yowani Country Golf Club at Lyneham.
Nearby, the developer sold its Dickson Village build-to-rent project to Aware Real Estate for $157.5 million in 2023.
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