A new chapter in the development of Denman Prospect is set to unfold as the Suburban Land Council has announced that TP Dynamics will lead the third stage of the project. Construction is slated to commence in **2027**, aiming to introduce nearly **2,950 homes** to the rapidly growing Molonglo Valley suburb.
The Canberra-based development company TP Dynamics was awarded the tender following its successful track record, including the recent takeover of the G Plus development in Giralang and the ongoing construction of a luxury hotel on Garema Place. The third stage of Denman Prospect will feature a higher population density compared to the previous two stages, reflecting the increasing demand for housing in the region.
Tony Pan, managing director of TP Dynamics, expressed enthusiasm about the opportunity to collaborate with the Suburban Land Agency. “We look forward to bringing our vision for this project to the Canberra community and contributing to the ACT government’s broader housing objectives and targets,” he stated.
Capital Estate Developments, owned by Canberra Airport, managed the first two stages of Denman Prospect. The first stage is complete, providing housing for over **4,000 residents**, while the second stage remains under construction. Gabbie Foster, managing director at Capital Estate Developments, emphasized their commitment to maintaining high standards throughout the project. “We are incredibly proud of the community we have helped build over the past decade,” she said, noting the successful sale of the land to the ACT government.
Denman Prospect has been in development for more than a decade, with plans for the suburb initiated in **2015**. Capital Estate Developments acquired the first stage for **$241 million** and successfully bid for the second stage for **$125.8 million** two years later.
The final stage will be bounded by John Gorton Drive, Holborow Avenue, and the Molonglo River Reserve. Among the **2,950 homes**, plans include **144 affordable housing units**, **207 community housing units**, and **60 public housing units**. In addition to residential options, the development will feature a playing field and a designated site for a public school.
Future residents will benefit from proximity to existing amenities, including the upcoming Molonglo Town Centre, which is set to house a shopping precinct, library, community centre, and educational facilities such as a high school and college. A spokesperson for the Suburban Land Council stated that Stage 3 is designed to complement the previous stages, enhancing the overall community infrastructure.
As the project progresses towards its start date in **2027**, it underscores the ongoing effort to address housing needs in the Australian Capital Territory and the commitment of TP Dynamics to shape a vibrant community in Denman Prospect.
