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Geocon has lodged a development application for a 16-storey hotel in Canberra's CBD, between Garema Place and Bunda Street, the latest of the high rises planned for the city centre. The five-star Garema Hotel will rise above 50 metres, dwarfing the Canberra Centre but on a par with the Queensland Investment Corporation's recently approved plans for a 180-room hotel a block away on the corner of Cooyong and Genge streets. Both are said by the developers to reach the city height limit of about 50 metres above ground level. The Garema Hotel will replace the Garema Centre at 70 Bunda Street, with the hotel lobby opening on to Bunda Street and a restaurant to open on to Garema Place. The hotel, designed by Fender Katsalidis architects, would have 233 rooms, according to Geocon's development application, now open for public comment. Geocon's proposal is for block 5 of section 47, but it has proposed consolidating the site, between Bible Lane and Tocumwal Lane, with smaller blocks on either side if its development is approved. The smaller blocks would be built to four stories, forming part of the building podium. Construction is estimated to cost $46 million of an overall $100 million project cost. Geocon proposes just 21 car spaces in the development, its application saying the number was appropriate, given the location in the heart of the CBD and the public car parking spaces in the vicinity. "There is adequate capacity in the surrounding existing road network to accommodate the traffic generated by the proposed development," the application said. Geocon managing director Nick Georgalis said the ACT government had been actively looking to attract high-end hotels to Canberra to accommodate international visitors to the capital. "Anyone who travels regularly to Canberra knows there are times when you can’t find a hotel room because there just isn’t enough supply, particularly for the luxury market," Mr Georgalis said. “Through the Abode Group, Geocon will deliver an international-standard luxury experience right in the heart of the city." The site is close to the Canberra Centre, and 300 metres from the light rail stop. Geocon bought the Garema Centre September last year for $13.35 million. The two-storey building will be demolished to make way for the new hotel. Geocon conducted a community consultation earlier this year, and said the survey showed "majority support among city residents". "Garema Place is seen to be rundown, underutilised and in need of redevelopment," the application said. "Whilst a luxury hotel may not be the preferred option for some, many perceive that redevelopment is essential as it will bring greater vibrancy and potential economic activity to the area." The Geocon survey also notes that the shape and scale of the building was not a "large concern for community or business owners." The community expressed concern about the "ongoing and long-term impact" on traffic accessing the site off Bunda Street. The application said there should be “no significant impact on the road network during peak hours”. “Site observations, road hierarchy analysis and current road network performance suggest that a survey for road impacts does not need to be undertaken. Mitigation measures due to traffic impacts of the development are also not required," it said. “... Observations on site suggested low congestion in the immediate road network. Queues in adjacent intersections dissipate quickly and delays are usually due to high pedestrian activity.” The proposal comes after the ACT government approved the Queensland Investment Corporation's mixed-use development just a block away. The proposal, for the surface carpark on Cooyong Street, includes an office tower, 180 hotel rooms, and 248 apartments. Questions have been put to the Queensland Investment Corporation about when it plans to start construction. The company is giving no indication of when the proposed development might begin. The Queensland Investment Corporation has owned the section 96 carpark for more than 10 years, and has released a number of previous iterations of developments that have not eventuated. In a statement, Queensland Investment Corporation managing director Steven Leigh said it was "too early to provide specific detail regarding the scope and timeframes for the proposed development". "As with any significant development, it takes time to responsibly plan and schedule to achieve our vision for this master planned, mixed-use precinct," he said. A block towards Northbourne Avenue, Graham Potts's Amalgamated Property Group is building an office block rising to 49 metres, facing on to Veterans Park, and between Northbourne and Mort Street. And on the corner of Cooyong St and Ainslie Avenue, SHL is building more than 500 apartments rising to 12 storeys. On the other side of the city centre, developer Barry Morris has lodged plans for an 18-storey apartment building in the city, alongside a building of the same height that he is also developing. If Geocon's plans are approved it said work would start on the Garema Hotel in 2019. Submissions close on the development application on May 21.

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