Founders Lane precinct reaches final stages as buildings top out

The $500 million project has 781 apartments across four stages. Two are complete and the last two will welcome residents early next year.

The third and fourth stage of the project topped out on Tuesday, with 75 per cent of the 448 apartments sold.

Construction on those stages started last May. JWLand head of development Michael Prendergast said HomeBuilder grants had led a big step-up in demand for the units.

"It's been on the market now for over a year," he said.

"With the stimulus package that came through from the federal government, there was a massive upshot in sales in the last six months."

Construction on the final stages is expected to be completed in the last quarter of 2021 with residents to move in early 2022.

The final stages of Founders Lane was the first project completed by JWLand's new construction arm of the company.

They aren't alone in extending their business, Master Builders Association ACT chief executive Michael Hopkins said it was a marker of the Canberra market.

"I think one thing that characterises the Canberra development scene is an integrated development and construction model," he said.

"It will allow the developer to have control throughout the whole design and delivery process, and it's something which should result in a higher quality product."

Meanwhile, JW Land's plans for a 600-unit precinct on the site of the former public housing flats at Braddon Place have been slowed through consultation with the ACT government.

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Mr Prendergast initially hoped to lodge a development application for a nine building precinct at the start of the year, but that has been pushed back due to ongoing consultation with the government.

He said it was at the last round of the process and the development application would be lodged in the coming weeks.

"When you get into a precinct that's got eight, nine or ten buildings there's more complications that need to be considered," he said.

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