The state government of ACT on Tuesday unveiled plans to extend Canberra's central business district, which will include a set of new swimming facilities, residential apartments, commercial spaces, a convention centre and a sports stadium.

The development plans, dubbed "The City Plan" and "City to the Lake" projects, are envisioned to take 10 to 15 years to materialize. It will also include an urban beach.

"The study provides a framework for an urban extension of the city centre towards the lake, from the West Basin to Anzac Parade," Chief Minister Katy Gallagher said.

The plans would definitely play a major role as we make the city centre a more dynamic, vibrant and sustainable place, she stressed.

"The City Plan will provide a blueprint for future infrastructure development, land release and incentives for redevelopment right across the city," Ms Gallagher said.

Andrew Barr, Economic Development Minister, said the plans were patterned along the style of Southbank in Brisbane, which include pedestrian boardwalks and an urban beach, "something that the city I think really, really needs."

The ACT government admitted it spent $1 million to have the plan done. But this is only as far as the design goes. It does not include project costings.

Essentially, the long term plans could not be handled and completed by the state government alone, Ms Gallagher said.

"The projects could done through private sector financing or joint government-private sector financing," she said.

"There are funds that would come to government from developing this, that could be reinvested in the project but certainly there would need to be some private sector involvement.

The City to Lake project, part of The City Plan, runs from the West Basin to Anzac Parade, including Canberra Olympic Pool and the existing convention centre.

The City Plan will likewise incorporate the Capital Metro Light Rail project, an endeavor estimated to cost $600 million. It is currently being studied as the government wants it linked with existing ACT public transport networks.