A key block of land in Woden town centre has been released for sale, with the potential for hundreds of new homes, offices and retail space.
The Suburban Land Agency has released the 13,000-square-metre site, located between Matilda, Bowes and Callum streets in Phillip, for sale by tender.
A "design-led" sale process will see developers put forward their ideas for the mixed-use precinct, to be called Woden Village.
The agency has stipulated a maximum 200 dwellings would be required, including 20 affordable and 10 community homes.
A large commercial component is also planned for the site, with options for office space, retail shops and food and beverage.
The land release is a chance to build a "town centre-changing" project, selling agent Nic Purdue of CBRE said.
"It's pretty rare opportunity to get a site of this size and scale particularly so close to a town centre," he said.
The block will form part of a major transformation of the town centre.
Projects in the works include the $325 million CIT Woden campus, the ACT government's planned light rail extension and the Hellenic Club's lavish redevelopment.
Developers to submit designs
The request for tender follows a months-long consultation process which sought community input on the future of the site.
A place design brief was released in April which recommended breaking up the block into three buildings and introducing new access roads.
It also outlined the community's desire to acknowledge Ngunnawal culture in the future development, as well as green spaces and safe access for pedestrians and cyclists.
Suburban Land Agency CEO John Dietz said the community had called for a "thriving mixed-use" space that would integrate "opportunities to work, live and learn".
The agency said the design-led tender process would ask developers to submit designs that respond to the brief.
The successful buyer would be required to retain the same amount of public car parking spaces that currently exist on the block. They would also be required to develop the open public space along Matilda Street.
Interstate interest expected
Mr Purdue expected local developers to show serious interest.
"It's a big piece of land that a lot of developers have probably driven past over the years and have always thought it would make a great project," he said.
He said interstate developers had also been scoping out Canberra locations for build-to-rent projects.
"There's certainly, I think, going to be some appetite from the BTR investors to have a look at this," he said.
"Canberra's fundamentals still tick the boxes for a lot of these interstate developers that are looking around nationally for projects."
The ACT government released another key block of real estate in May, listing a large site on London Circuit for sale.
It followed a successful land release in Turner last year, when a 16,300-square-metre block on Northbourne Avenue sold for $59.3 million.
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