The ACT Government has finalised a landmark $385 million deal to acquire 700 hectares of land in Ginninderra, paving the way for up to 30,000 new homes in the region. The purchase, announced by Chief Minister Andrew Barr on Wednesday, marks one of the largest land acquisitions in the territory's history and is a key component of the government's strategy to tackle housing affordability and supply shortages.
Details of the Acquisition
The land, located in the Ginninderra district northwest of Canberra's city centre, was purchased from the CSIRO, which had previously used the site for agricultural research. The transaction includes the former Ginninderra Experiment Station, a 700-hectare parcel that has been earmarked for urban development. The government plans to develop the land over the next 20 to 30 years, with the first homes expected to be completed by 2028.
Chief Minister Andrew Barr described the acquisition as a "once-in-a-generation opportunity" to deliver housing for future generations. "This purchase ensures the ACT Government can control the pace and type of development, prioritising affordable housing and community infrastructure," he said.
Housing Targets and Affordability
The Ginninderra site is expected to accommodate approximately 30,000 homes, including a mix of detached houses, townhouses, and apartments. At least 15% of the dwellings will be designated as affordable housing, with the government aiming to increase that proportion through negotiations with developers. The project aligns with the ACT Government's target of delivering 60,000 new homes by 2041 to meet population growth and address rising housing costs.
According to the government, the median house price in Canberra has risen by over 30% in the past five years, making home ownership increasingly out of reach for many residents. The Ginninderra development is intended to provide more options for first-home buyers and low-to-middle-income households.
Environmental and Community Considerations
The development will incorporate sustainability principles, including water-sensitive urban design, renewable energy integration, and preservation of green corridors. The government has committed to retaining at least 30% of the site as open space, including parks, wetlands, and walking trails. Community consultation will begin later this year to shape the master plan, with input sought on transport links, schools, and local services.
"We want Ginninderra to set a new standard for sustainable suburban development in Australia," said Planning Minister Mick Gentleman. "This is not just about building houses; it's about creating a complete community with access to jobs, services, and nature."
Economic and Budget Impact
The $385 million purchase price will be funded through the ACT Government's budget, with the first payment of $150 million due in the current financial year. The government expects to recoup the investment through land sales and development charges over the life of the project. Treasury analysis suggests the development could contribute up to $1.5 billion to the local economy annually once fully established, supporting thousands of construction and service jobs.
Opposition Leader Elizabeth Lee criticised the government for the high cost, arguing that the money could have been spent on upgrading existing infrastructure. However, the government maintains that the long-term benefits outweigh the upfront expense.
Next Steps
The ACT Government will now begin detailed planning and environmental assessments, with a draft master plan expected to be released for public comment in 2025. The first stage of development, covering around 100 hectares, is scheduled to commence in 2026, with the first residents moving in by 2028.
