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CIC acquired the Otway Terrace site from the Gungahlin Development Authority during 1999.  Otway Terrace was the first housing to be constructed in the new Gungahlin Town Centre, on the north side of Canberra.  The site was acquired with existing approval in place for a total of 27 dwellings, comprising a mix of terrace houses, duplex homes, apartments and free-standing homes.

CIC's involvement in this project was primarily to demonstrate a commitment to leadership in the Canberra market, and to show a willingness to innovate. The project helped CIC build a working relationship with the Gungahlin Development Authority and its successor, the ACT Land Development Agency (LDA) which has been of benefit in subsequent joint venture projects.

In many ways Otway Terrace was a forerunner to many of the higher density, and in particular terrace housing projects CIC has completed since then.  It set a new benchmark for Canberra, and due to its unique and adaptable design has facilitated a gradual evolution into a mixed use precinct.