Adelaide Festival Plaza Plans Approved

Adelaide Festival Plaza Plans Approved

South Australia Minister for Housing and Urban Development Stephen Mullighan

Green Light For Walker Corporation Development At Adelaide Festival Plaza

Victor P Taffa

A $500 Million private commercial and retail development at Adelaide’s Festival Plaza has been approved in another milestone for the redevelopment of the precinct.

“The Adelaide Festival Plaza is being redeveloped to turn one of the city’s premier locations from a long-neglected space to a revitalised focal point for our city.” Minister for Housing and Urban Development Stephen Mullighan said.

“The Walker Corporation’s development will be a key feature of the transformation, which also includes a $90 Million refurbishment of the Adelaide Festival Centre, a new entry to Adelaide Railway Station, a new plaza and northern promenade.”

Walker Corporation has received approval from the Development Assessment Commission (DAC) for the 27-storey office tower which also includes up to three levels of retail development and five levels of carpark.

Approval brings the more than $900 Million redevelopment of the Adelaide Festival Plaza precinct a step closer.

DAC concluded that the development would bring a range of uses including retail and commercial which would highly activate the space during the daytime and the evening and would help to revitalise and rejuvenate the plaza as a desirable place to visit.

“Our concept is based on our successful and proven mixed-use approach which will revitalise the city centre. On the cusp of growth, this development will become a major drawcard for Adelaide and attract major national and international businesses.” Walker Corporation Chairman Lang Walker said.

Office development will involve the demolition of the existing plaza and the carpark.

Background

Adelaide Festival Plaza development includes a new square, northern promenade and Art Space Plaza, as well as a reimagined Station Road and a new entry to the Adelaide Railway Station.

It also includes a $90 Million upgrade to the Adelaide Festival Centre and the proposed SKYCITY Casino expansion.

Together the projects are expected to support about 2,500 jobs during construction and at least 400 ongoing jobs when complete.

Revitalisation of the Festival Plaza precinct will link Adelaide’s premier Riverbank attractions such as the Adelaide Oval, Adelaide Festival Centre and Adelaide Casino.

State Government is contributing $180 Million towards the Festival Plaza and Adelaide Festival Centre redevelopment with a $40 Million contribution from Walker Corporation.

Approval does not include the public realm, which is subject to a separate application by DPTI (Department of Planning, Transport and Infrastructure) approved under the crown development application process.