A MAJOR milestone in Bowden's $1 billion transformation from a former Clipsal factory into a vibrant neighbourhood on the fringe of Adelaide's CBD has been reached, with the first residents now moving in to their new homes.
While the Bowden urban renewal project will eventually provide more than 2,400 dwellings for approximately 3,500 residents over the next ten to 15 years, the buyers of more than 180 apartments and terraces already have the opportunity to make themselves at home in the suburb.
South Australian Acting Housing and Urban Development Minister Susan Close last week described the announcement as a significant milestone in the transformation of Bowden, adding that it shows what can be achieved when the private and public sectors work together.
"Bowden demonstrates South Australians are ready to embrace quality, architecturally designed, higher density living," Dr Close said.
"Walkable tree-lined streets dotted with fresh street art, bike trails, parks and innovative housing designs are all part of the appeal."
The first homes to be completed are:
- 56 Seventh Street Bowden - 16 one and two bedroom apartments built by ACDEV;
- Loft on Seventh - 12 three-storey terraces built by Systembuilt;
- Terraces on Sixth - six three-storey terraces built by Rivergum Homes; and
- Bowden Seven - 16 one, two, and three bedroom apartments built by Rossdale Homes.
Dr Close said Renewal SA is also releasing the largest site yet-to-be offered to developers since the transformation of Bowden began in 2012. The 5,000 square metre site features four street frontages, including Bowden's new town square and the future retail precinct.
"This land release – one of the largest in Adelaide for the past few years - will ensure there continues to be quality apartments available to buy at Bowden to meet demand," Dr Close said.
"The prime site for sale to a developer will face Bowden's new town square, and follows the successful sell out of the Stage 1 development land."
The land can accommodate three or four apartment buildings of between four and eight storeys, where a developer is expected to build up to 250 apartments in several stages. It is anticipated that the developer would release apartments for sale off-the-plan in mid-2015, with construction of the first stage expected to begin in late 2015 or early 2016.
Also last week, off-the-plan sales commenced for Adelaide-based developer Emmett Property's $15 million apartment complex, The Merchant. Located on the corner of Gibson and Sixth streets in Bowden, the plans show 36 single-floor apartments, to be constructed at varying levels up to three and five storeys high.
Emmett Property Managing Director Nick Emmett said construction of The Merchant, which will meet Bowden's minimum 5 Star Green Star Design rating, is due to commence early next year and be completed by early 2016.
The 16.3 hectare Bowden project area is located at the north-western edge of the Adelaide Parklands on the former Clipsal and Origin industrial sites. It is designed to be a vibrant, safe and walkable neighbourhood with a mix of high density, medium rise, high quality housing.