Reshaping the nation's capital
Residential property investment in the ACT may become more attractive, after the territory government announced two major infrastructure projects that will shape the future of Canberra.
Speaking at the National Museum of Australia yesterday (March 26), chief minister Katy Gallagher said The City Plan and City to the Lake developments will help transform the nation's capital - potentially boosting demand for residential real estate in the area as a result.
"The City Plan will provide a blueprint for future infrastructure development, land release and incentives for redevelopment right across the city," the chief minister remarked.
"It will guide our decision-making on what facilities and infrastructure are needed, where these should be located, and what should be the appropriate mix of land use."
The City to Lake project will see the city of Canberra extended to Lake Burley Griffin, linking West Basin to Anzac Parade.
It will also include the construction of a new sports stadium, convention centre, cultural facilities, an urban beach and a split-level boulevard.
Ms Gallagher urged the community to submit feedback on the two developments by the end of April.