Plans for a luxury apartment complex in Canberra's inner south will be aimed at downsizers wanting a large lifestyle, according to the developer.
Dubbed "The Embassy", a new build at 38 Grey Street, Deakin, would sit within metres of the proposed Hopetoun Circuit stop under the territory's stage 2b light rail rollout.
The plans include 53 large residential units across two buildings, divided into 40 three-bedroom apartments and 13 two-bedroom places.
Developer Peter Micalos of Intellectual Property Group said the apartments would target an "enormous shortage" in high-end dwellings for an older demographic.
"What people are after is basically an apartment where the [interiors] are like a house but without the same maintenance," Mr Micalos said.
In keeping with the location, the proposed The Embassy side is directly across from The Ambassador apartments.
The five-storey proposal includes two basement levels with 134 car parking spaces, 120 of which would be equipped for EV charging.
The top four storeys of each building would be apartments, but the ground floor would also have two spaces for cafes and salons, along with an open plan area intended to be a gallery.
The site currently houses the Margaret Dimoff Art Gallery.
Built in the 1970s, it would be demolished prior to construction of the apartments.
"Our vision is to try and reinstate the gallery in some form within the development," Mr Micalos said.
"It is not only a nice way to feature the history of the site, but just a generally nice feature for the development itself.
"We are also in discussion about showcasing gallery work through the development in other common areas," he said.
More than 18 expressions of interest for apartments in the complex had already been received, according to Mr Micalos.
But as one of the only near-vacant blocks in the inner south, it is not the first time plans have been made for the site.
A 105-bed aged care home by former developer Provectus Care was conditionally approved for the block in 2019.
The development of this five-storey facility did not go ahead.
Intellectual Property Group then acquired the site and in 2022 put forward plans for a mixed-use development that included serviced apartments, a hotel, a cafe, and restaurants.
The original proposal - which was put to community but not lodged as a formal development application - had about 150 apartments.
It was met with criticism from the National Capital Design Review Panel, who said the plans failed to recognise Deakin's environment.
Deakin Residents' Association also raised concerns about traffic and on-street parking.
"We have scaled the [plan] down significantly by over 70 per cent after hearing feedback from our stakeholders, both the government and community alike," Mr Micalos said.
"The view was that the original plan was too dense for the area and that we were putting too much pressure on traffic arrangements, so we have [addressed] this."
Proportionally, an increased number of car spots have now been included.
However Deakin Residents' Association remain worried about traffic under the new development application, especially at school drop off and pick up times.
The site is close to Canberra Girls Grammar School.
"The development is expected to generate about 49 vehicle trips during the morning and evening peaks," a spokesperson said.
The group plans to engage expert opinion to review the development application.
Submissions on the proposed development close on September 4.
