South Australia Minister for Planning John Rau
Construction Begins On Adelaide’s Tallest Residential Apartment Development
Victor P Taffa
Construction has commenced on Adelaide’s tallest residential apartment development, with ground officially broken.
Kodo on Angas Street will cost $100 Million and create approximately 250 local jobs.
“Congratulations to Kodo on the start of construction and for their additional developer grant.” Minister for Planning John Rau said.
30-story development, by Flagship Property Holdings, is architecturally designed and includes 208 apartments, retail and commercial tenancies.
“A construction on this scale represents a vote of confidence in Adelaide and South Australia.”
Western Core Projects Pty Ltd applied for development approval for the Kodo apartment building in December 2014. Prior to development assessment, the developer worked closely with the Government Architect as part of the State Government’s pre-lodgement service, to ensure good design outcomes were achieved as part of the proposal.
Following a thorough assessment process, the independent Development Assessment Commission granted planning approval for the proposed 30 storey building in September 2015.
In addition to the $15,000 first homeowners grant offered by the State Government, and the State Government Off-The-Plan Stamp Duty Concession of up to $15,500, Kodo is also contributing a developer grant of up to $7,500 for purchases before 1 June.
State Government’s capital city policy changes have unlocked the development potential of an estimated 30,000 additional dwellings in the city.
Our extensive structure planning and rezoning program has resulted in an excess of 20 years’ supply of development ready land (at current land consumption rates) in residential growth areas.