Aged care, residential homes, social housing, commercial accommodation, and community facilities have been approved for the 11-hectare site of the former Australian Forestry School in Yarralumla, 3.5km south west of Canberra's city centre.
Sydney-based property developer Oakstand received the National Capital Authority approval for the proposal last week.
"It’s a significant milestone for the project, which includes plans for apartments, aged care homes and possibly offices or a hotel at the former Australian Forestry School site," Oakstand said in a statement.
The approval will require heritage buildings to be retained and adaptively reused. Up to 300 dwellings will be permitted on the site, including buildings of up to three storeys – and 60% of the site must be retained as open space.
CSIRO sold the site to Gunyar Pty Ltd in 2002. Gunyar and Oakstand will develop the block together.
The approval comes after extensive consultation with the community over more than three years.
“This amendment is great news for the national capital because it opens up more land for housing supply in inner Canberra, encourages new commercial opportunities, and makes for better use of existing infrastructure on the site," said Federal Minister for Territories, Kristy McBain MP.
