Planning changes drive economic development in Adelaide
Today, Deputy Premier Hon. John Rau MP and Starfish Developments’ Managing Director Damon Nagel, spoke to media on how planning changes have driven economic development in Adelaide.
Mr Rau stated that State Government changes to planning rules have stimulated investment, supported infrastructure, new housing, generated jobs and attracted more people to live and invest in Adelaide.
“The policies were supported by the introduction of a pre-lodgement and design review process for development in the city valued over $10 million to be assessed by a single planning authority—the Development Assessment Commission,” said Mr Rau.
“There has been a significant increase in approvals for developments over $10 million since the introduction of the reform. In 2015, the DAC granted approval to 22 city developments having a combined value of over $660 million.”
“This is the type of investment that has benefited from the State Government’s reforms to the planning system throughout the city.”
“Starfish Developments was one of the first companies to take advantage of the State Government’s pre lodgement and design review process from approval to construction. They are investing for a second time in our city following their success with planning processes in relation to their first development.”
In March 2012 the State Government revised the city’s planning policies.
“So far in 2016, the DAC has granted approval to six city developments having a combined value of $393 million,” said Mr Rau.
Mr Nagel mentioned that the bohem project will create 300 jobs and construction is expected to be complete in October 2017. Currently, 165 of the 220 apartments have sold (75 per cent). One- third of buyers are aged below 30.
“The State Government’s planning reforms have paved the way for us to develop $210 million of projects in the CBD and create employment for around 300 SA construction workers and sub-contractors over a four year period,” said Mr Nagel.
“The reforms, coupled with the government’s investment being made in the CBD, have given the private sector the confidence and the certainty required to invest.”
bohem, which overlooks Whitmore Square, will transform the prime corner site into a $110 million residential apartment building with a 22 metre vertical garden creating a bold façade.
The bohem Sky Garden design is a modern interpretation of the trellised gardens common in Greece and other parts of Europe with a green canopy of plantings providing natural shade and the entire edge of the garden adorned with lush plantings.
The garden, which will be located on the sixth floor of the development, will also feature a 250sqm outdoor kitchen with timber tables and seating, viewing ledges, 17 metre lap pool and gym.
“Buyers in Adelaide are more readily embracing apartment living but the project has to be well-designed, well-located and well-priced. They are attracted to bohem’s bold design and its prime location close to the Gouger Street dining strip, local cafes and the Adelaide Central Markets,” said Mr Nagel.