New Apartments Braddon: 12-Storey Tower Approved

A landmark planning approval for a mixed-use tower in Braddon signals the ACT Government's commitment to densifying suburbs within walking distance of the CBD, as the territory grapples with persistent housing undersupply and mounting pressure on inner-city neighbourhoods.

The development, granted approval by the ACT Planning and Land Authority this month, will bring 187 apartments across 12 storeys to a prominent corner site on Lonsdale Street, alongside 2,400 square metres of ground-floor retail and hospitality space. The project represents one of the largest single residential approvals in the inner north since the pandemic-era construction boom shifted away from Canberra's established suburbs.

The scale underscores a broader planning pivot toward the Gungahlin and Belconnen growth corridors—and their immediate feeder suburbs like Braddon—as an answer to the territory's chronic supply constraints. With the ACT median house price hovering near $835,000 and rental vacancy rates below 1 per cent, planning officials are betting that medium-density infill will help stabilise affordability and free up established neighbourhoods from investment speculation.

Braddon, historically a light industrial and small-business hub, has undergone rapid transformation in recent years. The approval comes as the suburb's commercial spine—anchored by coffee roasters, design studios, and independent retailers—has matured into a destination neighbourhood. Proximity to the city's cultural institutions, O'Connell Street's weekend markets, and direct access to Northbourne Avenue have made the suburb increasingly attractive to younger households and public servants seeking walkable inner-city living.

The tower includes 28 affordable rental units, aligned with the ACT's social housing commitments, and incorporates a basement carpark with 240 spaces. Cycle parking and electric vehicle infrastructure reflect current planning standards, though the developers' density bonuses—allowing the building to exceed standard height limits—hinged partly on demonstrated commitment to sustainable transport outcomes.

For the broader market, the approval signals confidence in demand. While recent RBA commentary has highlighted the persisting impact of higher interest rates on property sentiment, inner-north intensification continues to attract institutional and boutique developer interest. The auction clearance rate across Canberra has hovered around 65 per cent, with inner suburbs performing more robustly than fringe markets.

The development is expected to commence construction in early 2027, with first occupation slated for 2029. Planning officials have flagged similar applications in the pipeline for Dickson and Ainslie, suggesting the next phase of Canberra's urban consolidation is well underway.

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