Public tenders have now opened for the sale of The Precinct Red Hill.
The Precinct has been described to prospective buyers as a luxury Englobo development opportunity and is one of the largest ACT properties to be released to the market.
"This 53,003-square-metre site is one of the largest properties offered to the market," said a spokesman from ACT Environment, Planning and Sustainable Development Directorate.
"Up to 252 dwellings are permitted for development, including a combination of 108 single detached and terrace-style homes and up to 144 multi-unit dwellings."
The development is adjacent to the Red Hill shops and is located in the former site of the Red Hill public housing precinct. Demolition of these buildings began in August.
The successful purchaser of The Precinct will be offered the opportunity to develop a combination of dwelling types, open space and low-scale commercial sites, permitted within an approved Estate Development Plan (EDP).
Locals in the Red Hill community have been significantly involved in the creation of the EDP.
"As an urban renewal site, the Red Hill community and the government have invested substantial time and energy into the design of the site," the spokesman said.
"The site incorporates pedestrian links, which increase connectivity and permeability throughout the Precinct and link open spaces together to form a network, encouraging an active lifestyle."
Tenders will be open until 2pm, Thursday, March 1, 2018, with the date of completion for the sale settlement Friday, June 8, 2018.
