$150 million residential boost for South Terrace
17 JUNE 2016
A NEW $150 million residential development is set to further transform one of the Adelaide CBD’s premier parkland locations.
The Development Assessment Commission has approved a Woods Bagot (architects) design aimed at bringing a new vibrancy to South Terrace and which is expected to generate around 300 jobs during construction.
The projected 18 storey development at 211-215 South Terrace will sit on the current site of the ground and first floor level only, Country Comfort motel, which lies between the Sage and Chifley hotels.
The project will aim for a new benchmark for building quality and residential amenity to provide a development that will age gracefully and become a catalyst for local growth and be an enduring addition to South Terrace, said Woods Bagot principal Peter Miglis.
Mr Miglis, whose firm was behind the SAHMRI and Adelaide Convention Centre redevelopment, said the project will provide a unique sense of place for current and future residents.
“The site provided an opportunity to fuse the dichotomy of Adelaide’s urban DNA with the serenity of the southern parklands, acting as a catalyst for urban revitalisation within this significant part of the city.” Mr Miglis said.
There will be 250 apartments within the development along with a variety of high quality amenities including pool, spa and extensive landscaped gardens, Mr Miglis said. Additional communal open space has been provided at podium level to further create a sense of community within the development and enhance the connection of the apartments southward to the parklands and northward to the city.
The development will be 400 metres from the new Vue apartments at the southern end of King William St, which were officially opened by SA Deputy Premier John Rau last week and will cater for around 400 residents within its 28 storeys. The project team aims to set a new benchmark for building quality and residential amenity to provide a development that will age gracefully and become a catalyst for local growth and be an enduring addition to South Terrace.
Local developer Greenbelt is working with a mix of South Australian and interstate experts to deliver the flagship project which include Melbourne based development managers Sinclair Brook and property fund syndicator Quintessential Equity. A spokesperson for Greenbelt said they are committed to the long term vision of the precinct.
“We aim to create a new lifestyle destination in the city, and in the process provide much needed jobs and economic boost to local businesses,” he said.
Registrations of interest for the development are expected to commence in August.
Department of Planning, Transport and Infrastructure SA documents show 211 South Terrace to be owned by next door neighbour 208 South Terrace which is the current home of the Sage Hotel. The projected location has a site value of $2.9 million and a capital value of $10.9 million.