The suburb has finished development and construction.

• Road construction commenced in July 2008.
• The construction of 21 display homes was completed in May 2009.
• By July 2012 more than half of the houses were complete.
• The majority of homes were complete by 2015.

The ACT government selected developers for the area as Defence Housing Australia and Canberra Investment Corporation. The developers were expected to make $60,000,000 but had to share half with the government. Some very small blocks were released for low cost housing with 85% released for high cost housing.^[5] 1,500 houses were planned for the 140 hectares,^[6] however more than 1,600 dwellings were built.^[7]

As part of the recent development, a new series of streets have been created following a Burley-Griffin grid pattern. Phase 1 Streets:

• Abena Avenue (main street of Crace)
• Arcadia Street
• Avenal Street
• Baratta Street
• Benalla Street
• Carrawa Street
• Chance Street
• Cocoparra Crescent
• Digby Circuit
• Dobikin Street
• Drooka Crescent
• Durong Street
• Eba Street
• Errol Street
• Ettrick Street
• Fairfield Street
• Fergus Street
• Fingal Street
• Galore Street
• Gegeela Street
• Harrow Street
• Hillcrest Street
• Hotspur Street
• Indi Close
• Ivory Street
• Jellicoe Street
• Junee Street
• Jutland Street
• Kappakoola Street
• Keewong Crescent
• Lanaba Street
• Langtree Crescent
• Maranunga Crescent
• Meda Close
• Medhurst Crescent
• Narden Street
• Nuleri Street
• Parilla Street
• Punyibah Street
• Quain Street
• Redruth Street
• Rylstone Crescent
• Samaria Street
• Stowport Avenue (incorporates an urban linear park)
• Tabbara Crescent
• Taplow Street
• Thadoona Street
• Ultimo Street
• Vandyke Street
• Wadeye Street
• Wirregar Place
• Yinnar Street
• Zanci Street

The suburb also encompasses Gungahlin Hill, which hosts the transmission facilities for the following radio stations:

• ABC Radio National
• 666 ABC Canberra
• 1RPH
• Mix 106.3
• 1053 2CA
• 1206 2CC
• Hit 104.7

Crace has a local shopping complex which includes Supabarn, The District (restaurant/pub), Chicken Gourmet, Capital Chemist, Blue Poppy Hair, Club Lime, Sibu Beauty, Coffee Guru, Verve Chiropractic, Crace Medical Centre, and B Best Thai Massage.

Like the majority of new Canberra suburbs, Crace is a cat containment area: all cats have to be kept inside the cat owner's property and within an enclosure if outside.

Crace Grasslands Nature Reserve and Crace Hill are not completely located in Crace despite the name; their southern parts are located in the adjacent suburb of Lyneham. It also has a CSIRO Sustainable Ecosystems area.

Geology edit

On the North west side of Crace the rock is middle Silurian age Canberra Formation slaty shale and mudstone. In the mid west is siltstone. Towards Gungahlin Hill there is some sandstone at the base of the siltstone deposit, then over an unconformity to lower Silurian age State Circle Shale, and then mudstone. On Gungahlin Hill the rocks are from the Ordovician age Pittman Formation with greywacke and bands of the Acton Shale Member. The east side of Crace also has Silurian Canberra Formation with the top of Crace Hill having vesicular Dacite overlying mudstone. Crace Hill has been designated as a geological monument. The Gungahlin Fault curves around the south east side of Gungahlin Hill, and heads north north east out of Crace. The Winslade Fault comes into the south of Crace over the top of Gungahlin Hill and curves north into Palmerston.^[8]

• Crace Community Association website