The final chapter of Canberra's Denman Prospect suburb has found its author, with local developer TP Dynamics announced as the successful tenderer for the project's third and largest stage.
A New Developer Takes the Reins
The Suburban Land Agency confirmed on Friday that TP Dynamics has won the rights to deliver Stage 3 of the Molonglo Valley community. The Canberra-based company, known for taking over the G Plus development in Giralang and building a luxury hotel on Garema Place, will now helm the final piece of the Denman Prospect puzzle.
Managing director Tony Pan expressed enthusiasm for the partnership. "We look forward to bringing our vision for this project to the Canberra community and contributing to the ACT government's broader housing objectives and targets," Mr Pan said.
This marks a shift from the first two stages, which were delivered by Capital Estate Developments, a company owned by Canberra Airport. Capital Estate purchased Stage 1 in 2015 for $241 million and Stage 2 in 2017 for $125.8 million.
What Stage 3 Will Deliver
The final stage is set to be the most dense, with plans for nearly 3000 dwellings. The housing mix is designed to meet diverse needs:
- 144 affordable housing dwellings
- 207 community housing dwellings
- 60 public housing dwellings
The precinct will be bounded by John Gorton Drive, Holborow Avenue, and the Molonglo River Reserve. Key community infrastructure is also planned, including a playing field and a site for a future public school.
Its location is strategic, positioned directly across from the planned Molonglo Town Centre, which promises future residents easy access to a shopping precinct, library, community centre, and secondary education facilities.
Building on a Decade of Progress
Denman Prospect's story began over ten years ago. Today, more than 4000 residents already call Stage 1 home, while Stage 2 remains under construction.
Gabbie Foster, Managing Director of Capital Estate Developments, reflected on the company's role in establishing the community. "We are incredibly proud of the community we have helped build over the past decade and that it's led to a successful sale for the ACT government," Ms Foster stated. "We are confident that the strong foundations laid so far will continue to shape a thriving and remarkable suburb for generations to come."
A spokesperson for the Suburban Land Agency noted that Stage 3 will complement the existing areas, ensuring new residents are close to established amenities.
Subject to planning approvals, construction on Stage 3 is expected to commence in 2027, marking the next major step in the evolution of Molonglo Valley.
