"Visonary" businessman Terry Snow "left a legacy of kindness, philanthropy and business excellence", Chief Minister Andrew Barr said in a motion of condolence to the Legislative Assembly.
The leaders of the Labor, Liberal and Greens parties all rose to pay tribute to Mr Snow, who died on August 4 at the age of 80.
All the MLAs stood in silence as a show of respect for Mr Snow and members of his family who were sitting in the public gallery - his wife Ginette and two of his four children, Stephen and Scarlett - as well as friends who were also there. They also passed on their condolences to his other children, Tom and Georgina.
A public memorial service for Mr Snow is being held on Monday, September 16 at 11am at the Canberra Theatre Centre.
All Canberrans are invited to the service. Mr Snow's family asks those intending to go fill out this RSVP https://bit.ly/474bjye
Mr Barr said Mr Snow, a property developer, owner of the Canberra airport, and philanthropist, was "an integral figure in creating the Canberra that we all know and love".
"His passing is the end of an era for our city," he said.
"He was a business and community leader with an innovative spirit, a willingness to take risks and a relentless pursuit of excellence.
"His contributions to Canberra's wellbeing and economic development came at a pivotal moment in our city's growth and will endure for generations to come."
Mr Snow, who bought the Canberra airport from the Commonwealth in 1998, describing it as a "humble tin shed in a paddock", had developed it into the "best small airport in the world", Mr Barr said.
"[It] paved the way for Canberra to become a viable economic hub, improving trade, investment, tourism and economic growth opportunities for our entire region," he said.
Mr Barr said it had been a great pleasure to work with Mr Snow to secure more international flights for Canberra, starting with the first in 2016.
He also praised Mr Snow for developing high-quality projects such as the Brindabella Business Park, Constitution Place and the Denman Prospect suburb.
The Chief Minister paid tribute to Mr Snow's philanthropy, including establishing the Snow Foundation, with his brother George, to give those struggling a helping hand. The foundation had since distributed more than $80 million in support.
The Snow Medical Research Family was also funding research, including $100 million to investigate immune diseases in Melbourne.
Mr Barr said Mr Snow had led a "remarkable life of accomplishment and generosity".
"His spirit will continue to inspire us all and his contributions will forever be a strong thread through the fabric of Canberra," he said.
In her motion of condolence, Liberals leader Elizabeth Lee said Mr Snow had been pivotal in helping Canberra become a "wonderful, dynamic and prosperous city", as he, himself, evolved from an accountant to real estate agent to property developer.
"Terry Snow literally built Canberra," she said.
Ms Lee said his legacy would live on.
"We can all see and feel the impact of Terry's life's work throughout the territory," she said.
Ms Lee said Mr Snow's philanthropic endeavours had "given Canberra the heart that he thought was missing".
She also fondly remembered seeing Mr Snow enjoying one of the Canberra Airport open days, surrounded by his grandchildren.
"It really struck me, despite his lifetime of dedication and service to the Canberra community, he was, in his grandchildren's eyes, 'Granddad'," Ms Lee said.
ACT Greens leader Shane Rattenbury also passed a motion of condolence in the Assembly, praising Mr Snow for "making Canberra a better place".
He pointed out Mr Snow backed "building innovation and sustainable building design", including in the Brindabella Business Park, which had the first green-star-rated building in Australia.
Mr Rattenbury said Denman Prospect was also the first suburb in Australia to introduce a minimum requirement for solar generation for each home.
"It was innovations like this that pushed the boundaries and encouraged other developments across Australia in requiring and promoting solar power," he said.
Mr Rattenbury outlined one of Mr Snow's unrealised dreams - a proposal for a tunnel under City Hill to open up the heart of the city, removing the traffic flowing through the centre, making it more pedestrian-friendly and encouraging new business opportunities.
"It was a bold and visionary proposal and it is interesting to imagine what the city might be like today if that proposal had proceeded," he said.
Mr Rattenbury said he believed Mr Snow's family would "continue to be changemakers and seek a better future for Canberrans".
