AusBN – The Academy of Interactive Entertainment has requested to purchase Canberra Technology Park from the ACT government.
The company is looking to invest over A$111 million into the site over the next 20 years to refurbish and modernise it.
It hopes to turn the site into an innovative hub of learning and job creation.
Academy CEO John De Margheriti said: "We are seeking to acquire the site and should our proposal be accepted the AIE will inject a capital investment of $42 million dollars with an additional $69 million dollars derived from AIE's operating revenues over the following 20 years.
"In total we will be contributing $111 million over the next 20 years to support AIE's vision of making Canberra a modern, more dynamic and innovative city.
"We want to support, as a non-profit, the local independent game and film industries, to increase our student enrolments, to continue to be a leading centre of educational excellence and to help create jobs for our younger Canberrans."
The funds will be used to construct new affordable student accommodation, build a film soundstage and modernise existing buildings.
Watson community facilities will also be constructed at the site including an all access, park, dog park, tennis court and outdoor gym.