University of Canberra Amendment Bill 2015

University of Canberra Amendment Bill 2015The Property Council have held a number of meetings with the Government about the proposal, which would enable the University of Canberra to develop up to 3,300 residential apartments and an unspecified amount of commercial property. The ACT Government is currently preparing further amending legislation, a master plan for the University, and draft regulations which will spell out in greater detail the full extent and nature of the current proposals. Further details can be found in the Chief Minister’s media release, here: http://www.cmd.act.gov.au/open_government/inform/act_government_media_releases/barr/2015/govt-and-uc-strike-deal-to-secure-cbrs-place-as-a-university-cityThe proposal as currently drafted is of considerable concern to the Property Council given the University of Canberra will be provided with significant commercial advantage above and beyond the opportunities available to the private sector, and taking into account the substantial premiums for land paid by private sector investors. The Property Council is actively pursuing its representations to government. The Chief Minister’s office have confirmed another meeting will be held with the Property Council ahead of the introduction of the further amending bill.