Some Canberra residents may have heard some crunching and grinding earlier this week as the Northbourne Avenue revitalisation efforts began with a bang – literally.
The demolition of Dickson Flats indicates the first step in a huge undertaking, intended to provide the city with a better entrance to attract both more tourists and investors – possibly leading them all the way to Belconnen real estate. Minister Andrew Barr describes how as part of this process, the city will "replace every public housing dwelling roof for roof", providing more modern accommodation for those rely on the city's public housing system for a roof over their head.
"A number of people have been very keen to see this development project commence and to see some real signs that Northbourne Avenue is about to begin a transformation," said Mr Barr.
Next on the 'hit list' is Owen Flats to the west, which is currently vacant. Expected to come down by the end of the year and the land sold, the government will receive 15 per cent of the proceeds. These proceeds are planned to provide a tram system for those with Gungahlin real estate.
A more attractive city means a more attractive suburb. The Northbourne corridor has been quite an eyesore for the city in the past, potentially driving off investors and new residents. Moreover, the increase in housing supply could help drive down prices, making the entirety of Canberra, Belconnen included, more attractive to first home buyers.
In addition, the light rail planned for the zone will mean easier transport in and around the city, allowing for those in the Belconnen area to travel to and from the city centre far more smoothly.
For more information on how you can get a piece of the revitalised Canberra, get into contact with the team at Ray White Belconnen today.