Stockland and Doma Group have joined forces to win a $50 million tender bid for the controversial redevelopment of the Red Hill public housing precinct.
The Red Hill Precinct estate development plan includes up to 252 new homes built, with a combination of 108 single detached and terrace-style homes and between 83 and 144 apartments take over the vacant block.
As reported in The Canberra Times last week, the government said it was in negotiations with a preferred buyer, but the details were withheld. On Wednesday, the government announced the partnership between the two developers.
The 53,002 square-metre site, which had 143 public housing units built in the 1960s, is adjacent to the Red Hill shops and bounded by La Perouse Street and Monaro and Cygnet Crescent.
While residents supported building more public housing on the site, the government decided to sell it for redevelopment. The last of the tenants were relocated mid-2017 and demolition was completed last month.
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