Telstra and the ACT government will work together to reopen Telstra Tower to visitors, unveiling an agreement almost three years after the 195-metre icon closed to the public.
But Chief Minister Andrew Barr said it was still too early to say whether the revolving restaurant would spin back to life.
The telecommunications company and the territory signed a letter of intent on Tuesday, agreeing to work together on a plan to redevelop and reopen the tower on Black Mountain as a tourist destination.
Telstra, which owns the 46-year-old tower, revealed it had recently approached the ACT government to partner on a plan to open the building.
Telstra chief executive Vicki Brady said the company believed the tower could again be a popular tourist destination, alongside its telecommunications functions.
"As a national telecommunications and infrastructure provider, Telstra does not have the expertise to develop or manage a tourist attraction, so we need a partner with the local knowledge, skills and capability to help make that happen," Ms Brady said.
"That's why we are pleased to be entering into a partnership with the ACT Government to leverage their local expertise in running world class tourism venues, and hope this enables the Tower to once again be open to the public."
Ms Brady said any new development of the tower should reflect and incorporate the cultural significance of the site to the Ngunnawal people.
Ms Brady said Telstra had maintained the broadcast and telecommunications facilities on the site since it had closed to the public, and would invest in the building to bring it to modern standards.
"It will be a significant investment and we appreciate that, and are very much committed to playing our part in that to get the site up to standard and then working with the ACT," Ms Brady said.
Mr Barr said the tower was an icon that served as a signal to Canberrans they had arrived home.
As for a reopening timeline, the Chief Minister said 2026 would likely be the earliest possible opening of the landmark.
"I think that these things are probably several years away both in terms of both finalising designs and planning and then undertaking construction and renewal work," he said.
Mr Barr said a revitalised tower would enhance the visitor experiences available in Canberra and boost the tourism economy.
"The ACT government has experience in developing and operating award-winning tourism venues, in particular the National Arboretum Canberra and the Canberra and Region Visitors Centre."
Mr Barr said the ACT and Telstra would work together over the coming months on the investment required and commercial arrangements before final decisions are made on on the partnership.
"We expect there will be a cafe, retail, and an observation deck once the tower reopens - although it is too early to say if the revolving restaurant will be back," he said.
"We'll also continue with Telstra to engage with the Ngunnawal community and other families and stakeholders with an interest in the tower. We'll look at how local culture and stories can be incorporated into the experience. There are many possibilities to explore."
Mr Barr stressed there was not "bottomless capital" to invest in the site, and the tourism operation would need to be commercially viable.
Telstra has already commissioned Architectus, a national design firm, to consider the future of the building, which was completed in 1978 and officially opened in 1980.
Architectus principal Sophie Cleland said: "Our proposed design will respectfully acknowledge the significant stories of place and history bringing new life to this Canberra icon."
Telstra Tower, which was abruptly closed to visitors in July 2021, which a spokesperson said at the time was to allow for safety systems to be investigated and works to be completed.
The closure became "indefinite" in December 2021, although Telstra said at the time it was committed to reopening the landmark.
The revolving restaurant was shut in February 2013, after a building report commissioned by the restaurant's owner found outdated services posed serious health risks, the revolving floor controls were unsafe and the air-conditioning and sewerage pipes were in poor condition.
