A proposal to construct up to 300 apartments at the previous CSIRO location in Yarralumla has advanced after the federal environment department approved the initiative.
As reported in the Canberra Times, this marks a significant milestone for the project – encompassing the heritage-listed Australian Forestry School – pending further authorization from the National Capital Authority.
Developer Oakstand and proprietor Gunyar Pty Ltd aim to establish a residential and commercial zone on the 10.4-hectare parcel.
Redevelopment proposals involve constructing 250 to 300 apartments, a hotel, a senior care facility, and commercial workspaces.
The developer needed to secure approval for the plans under the Environment Protection and Biodiversity Conservation Act, due to the presence of an endangered species and the site’s commonwealth heritage status.
As per the approval conditions, the developer must also “safeguard, preserve and maintain each existing heritage structure” in the stage two section and guarantee ongoing upkeep is conducted in accordance with the EPBC Act.
Gunyar Pty Ltd acquired the site from CSIRO in June 2002 with a 20-year lease for the organization.
The trustee for Gunyar ACT Properties Trust possesses the crown lease for the site, and the Shepherd Foundation, a charity supporting children with hearing loss, is the trust’s beneficiary.
Developer Oakstand represents the Shepherd Foundation to oversee the redevelopment, named Forestry Place.