From purchasing the On Forbes site on Northbourne Avenue in Turner in 2017, Art Group had the vision to play an important role in the transformation of Canberra’s gateway.
As we put the final touches on what will be one of the first residential developments to be completed as part of the city’s renewal, we reflect on the role that we have played in building a new entry to Canberra and addressing our changing housing needs.
“We are the nation’s capital and were one of the only cities in Australia where you could have overlooked the fact you had arrived. Northbourne Avenue had the potential to announce the city but needed investment from those who saw what it could become – we did that and are committed to the delivery of two major residential projects in Turner and Dickson which front Northbourne Avenue, said Art Group Project Director, Brett Smith.”
Art Group envisaged what the entry to Canberra could become visually and identified strong demand for people wanting to live and invest along the corridor.
“The formula is very simple – transformations and repurposing have always been a successful model for residential growth in many cities across Australia and the world, but it has to be done right. The product has to meet the market, be a statement piece and offer something more than you can purchase in the suburbs.”
And we are not the only ones to recognise the potential of an underutilised strip of D-grade commercial buildings and the ability to solve the growing demand for housing in Canberra – yes, there is absolutely demand. Live-in buyers and investors are communicating what they want and where they want to live in their purchasing decisions.”
“When you deliver a 200-unit development that is all but sold out, this anecdotal evidence is invaluable to our planning and decision making for the future – where we invest, what we deliver and the price points that make inner-city living a viable housing option in Canberra. We talk to our buyers – we understand what drives their decisions and this helps us better tailor what we are doing 1, 2 and 3-years into the future and how we continue to make a valuable contribution to the renewal of Northbourne Avenue.”
Three-bedroom options have been a major draw-card because of the versatility they offer. Families, downsizers and couples alike are making the most of the offering at On Forbes in Turner, where they have the ability to secure a 3-bedroom apartment for the same price as land in some of the new residential areas.
“We develop upon the principle that people don’t have to plan too hard to attain a certain lifestyle – weekend recreation, afterwork activities and night-time dining are almost effortless. A high proportion of buyers are deciding that the convenience of a city-centric lifestyle is for them and the benefits of location, price and access to rooftop gardens, pools, fully-equipped gyms and more, outweigh the benefits of commuting for a 500sqm block.
Art Group are a major player in the city’s renewal and look forward to showcasing our investment in On Forbes when it is handed over to buyers in the next month.
Looking to the future, we turn our attention to being full-steam ahead with our Mulberry development within the Soho precinct in Dickson which offers 2.9 hectares of land, being developed into a residential precinct set among Soho Gardens – a Grounds of Alexandria style marketplace.
“Construction at Mulberry is imminent with strong sales since release in 2018.”