THE South Australian Government last week announced that Stage 2 of the $1 billion Bowden development has been released to industry, providing developers with another chance to secure parcels of land, following a sell-out of Stage 1.
The second land release comprises two parcels of land on Seventh Street, which will be offered as groups of Torrens Titled allotments for three-storey terrace homes.
Housing and Urban Development Minister Patrick Conlon said he anticipated the second land offering would be sought after by developers.
"Stage 1 generated a significant volume of offers and we're expecting a similar result for Stage 2, which comprises one of the few design-and-build terrace opportunities within the development," he said.
"Importantly, it's another chance to become part of a ground-breaking project that will set new standards in urban revitalisation, not only in Adelaide but on a global level."
Prospective purchasers have until 3pm on Tuesday, 28 August 2012, to submit their offer, which will be evaluated by the Urban Renewal Authority and its Design Review Panel to ensure the project's architectural benchmarks are met.
Mr Conlon said construction activities at Bowden are progressing well, including civil works for residential dwellings and the creation of the first public park between Fifth and Sixth Streets, which will formally open this spring.
The first off-the-plan apartment and terrace sales also remain on track to be released to the public in late 2012.
Situated on the north-western edge of the Adelaide Parklands on the former Clipsal and Origin industrial sites, the Bowden development is South Australia's first large-scale, integrated urban development.
The development will eventually comprise more than 2,400 homes for approximately 3,500 new residents over 15 years and aims to provide opportunities for new and expanding businesses within a vibrant, walkable community close to the city.