The State Government have accepted the offer from Starfish Developments for the Dock One site at Port Adelaide.
Site preparation has started on the first stage at Dock One, with major contractor McMahon Services.
The proposal includes redeveloping the Marine and Harbors building into apartments and ground floor retail premises with 650 homes planned for the seven-hectare Dock One and Port Approach (South) sites.
Following public consultation, extra open space has been included, while public access to the waterfront will be maintained with a promenade and a pedestrian bridge across Dock One.
The residential development is expected to support about 250 direct and indirect jobs a year during construction.
The proposal is staged and are subject to development approval.
The development will be launch around mid 2018.
To register your interest to receive information when the project launches, please click here