Festival Plaza redevelopment approved

Festival Plaza redevelopment approved

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.

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

The approval brings the more than $900 million redevelopment of the Adelaide Festival Plaza precinct a step closer.

The 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.

The office development will involve the demolition of the existing plaza and the carpark.

The 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 2500 jobs during construction and at least 400 ongoing jobs when complete.

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

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

The approval does not include the public realm, which is subject to a separate application by DPTI approved under the crown development application process.

Speaking about the project, SA Housing and Urban Development Minister Stephen Mullighan, said: “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.”

“The Walker Corporation’s development will be a key feature of the transformation, which also includes a $90m refurbishment of the Adelaide Festival Centre, a new entry to Adelaide Railway Station, a new plaza and northern promenade. The development will be a key feature of the North terrace skyline, helping to transform what is now a dull and unappealing site into a place all South Australians will be able to enjoy,” he said.

“Once it is complete, the Festival Plaza will be a space for all South Australians to meet for festivals and events, before and after sporting events at Adelaide Oval, or even just a place to recreate,” the Minister said.

Walker Corporation Chairman, Lang Walker said that “…the 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.”

“We congratulate the government on its progressive thinking in replacing and expanding the derelict carpark and spaces in the entertainment precinct with a modern facility that meets the latest codes and regulations, as well as linking the city to the river and Adelaide Oval,” Mr Walker added.

More information on the Festival Plaza redevelopment project is available at:
www.theadelaideriverbank.com.au

2018-03-14T23:20:31+00:00