Urban renewal projects such as those in New Acton, Braddon and the Kingston Foreshore have proven popular among Canberrans, according to the Minister for Planning Mick Gentleman.
These urban renewal works, both in Belconnen and around the rest of Canberra, have become a focus for the new Statement of Planning Intent, announced by Mr Gentleman at the launch of the Masters Builders Association 2016 Excellence in Building Awards.
"The new Statement of Planning Intent released last month reflects the community's opinions as Canberra continues to mature and grow as a major city," the minister said.
"It builds on current ACT government policies and strategies, and recognises the main contemporary challenges for our city."
Previous urban renewal works in New Acton, Braddon and the Kingston Foreshore have resulted in large increases in new businesses and residential properties. This new announcement from the minister is predicted to result in more of these construction and renewal projects in urban and suburban areas.
Residents of Belconnen will be deeply aware of the positive effects of urban renewal on neighbourhood value, as Belconnen real estate has undergone a transformation with an emphasis on natural spaces earlier this year.
"We are maintaining vast green corridors in Belconnen open spaces, nature parks and more intensely manicured parks," describes Dr Chris Bourke, chair of the ACT Assembly's Health, Community and Social Services Standing Committee.
"There are also substantial areas being put aside in the early town planning of Belconnen for future development, notably in the town centre and around the suburban shopping centres."
These projects are still ongoing and are constantly maintained, resulting in constant growth of the suburban area and excellent opportunities for both investors and those looking to buy a first home in a constantly developing, well-planned area.