The Australian Capital Territory Government has reached the first milestone for the Canberra Convention and Entertainment Precinct project with the Australian Government in Canberra.

The milestone marks the completion of the first stage of the funding agreement between the ACT Government and the Australian Government, allowing the project to move forward into the next phase of planning and design. The project involves building a large convention and entertainment centre that will replace or expand the city’s existing convention facilities. The proposed precinct is expected to include a major indoor entertainment venue with around 8,000 seats, enabling Canberra to host larger concerts, live performances, and business events that the current infrastructure cannot accommodate. The project is estimated to cost about AU$750 million (US$523 million) and will likely be delivered through cooperation between the territory and federal governments.

The precinct will be located in Canberra’s central business district, potentially on the site of the former Canberra Olympic Pool. It will also be situated close to the upcoming UNSW Canberra City Campus, which is currently under construction and expected to host thousands of students and staff. The next steps for the project include procurement for a reference design, detailed planning, stakeholder consultation, and preparation of a full business case, which is expected to be completed by around 2028. The government is also considering different delivery models, including a potential public-private partnership, to ensure the project is built efficiently and provides long-term value to the community.