CONSTRUCTION has officially commenced on the new $100 million VUE on King William apartments, after a ground breaking ceremony was held early last week for what will be Adelaide's tallest residential building.
The 28-storey (85 metres) building will feature 205 apartments and is located on the corner of King William and Holland Streets. VUE received development approval in November last year and eighty-two per cent of the development has been sold since being taken to the market in May this year.
The project, a joint venture between Adelaide-based Starfish Developments and Melbourne-based Asian Pacific Group, will take around 18 months to complete and create around 200 jobs during construction. It was designed by architects Woods Bagot, led by Principal Gavin Kain, alongside Design Architect Enzo Caroscio and a South Australian team.
Premier Jay Weatherill said the project demonstrates confidence in private development in the city and follows the government's city planning reforms and infrastructure projects.
"Projects like VUE on King William are what our Vibrant City agenda is about; making Adelaide a place where business wants to invest," Mr Weatherill said.
"These investments, along with major city planning reforms which commenced in 2012, are all about unlocking new development, creating new jobs and putting more privately funded cranes in the sky.
"Our planning reforms for the City have already been instrumental in unlocking 73 potential development projects to the value of $3.1 billion."
Mr Weatherill said the State Government is committed to removing barriers, accelerating approval processes and instilling confidence in the market.
"Our case management approach ensures that developers have a clear process with minimal red-tape, whilst respecting important factors such as design principles and the local environment," Mr Weatherill said
"Our recent announcement that the Coordinator General will assist private sector projects to clear hurdles is also an important way to build private sector confidence, stimulate investment and create jobs."