Geocon, a property developer based in Canberra, has finalised plans for a 6,200 sq m precinct on Northbourne Avenue.
It is hoped that the new precinct will play a key role in connecting the light rail network to the thriving suburb of Braddon, Domain reports.
Dubbed Midnight, the new construction will consist of a 160-room Abode Hotel, in addition to 250 residential apartments and 2,500 sq m of commercial space.
Situated opposite the future Eloura Street tram stop and built on the existing National Roads and Motorists' Association House site at 92 Northbourne Avenue, Midnight is a nine-storey building at the centre of this $185-million project.
Geocon revealed the development's latest details at an official launch on January 13th, with an extra 200 public car spaces set to be brought to the area, spread among three levels of basement car parking.
Nick Georgalis, managing director of Geocon, pointed out that an integral part of the design is pedestrian connectivity between the tram stop and Mort Street in Braddon, with a public courtyard to be incorporated into this.
He described the light rail as the most progressive Canberra development since the international airport - and Midnight will be the first high-density development along the route that will link the tram to the Braddon precinct.
Mr Georgalis expressed optimism that it could deliver vibrancy, amenities and services for the local community: "It's probably the most prominent location in Canberra for a development."
He emphasised the importance of getting a suitable balance of homes, accommodation and commercial space.
"We tried to [find] that right balance of commercial accommodation (and the demand for that), residential apartments (and the demand, again, for that) and [consider] how that would support the retail and commercial network on the ground floor," he commented.