A NEW partnership between two leading South Australian companies will deliver the next phase of the Bowden development, constructing up to 200 new apartments close to the city.
Development & Advisory and the Build Tec Group have been selected through an expression of interest process to develop the largest parcel of land released so far at Bowden, with construction expected to start mid-2016.
The 5,000-square metre site will accommodate four or five buildings of between four and eight storeys, employing up to 200 workers at the peak of construction and up to a further 600 through the supply chain.
Deputy Premier John Rau said the development will be delivered in stages over three to four years.
"It's great to have two high calibre South Australian companies working together on a project of this scale," Mr Rau said.
"Close to trams, trains and bike paths into the city, this site also has the added advantage of facing Bowden's new town square, which will be completed next year, and also fronts Gibson Street, Fourth Street and Fifth Street.
"This project will ensure there continues to be quality apartments available to buy at Bowden to meet demand and like all buildings at Bowden will use sustainable design principles whilst being energy and water efficient."
Developer & Advisory was responsible for overseeing the redevelopment of heritage listed Electra House in King William Street. Build Tec is a developer and builder with experience in a range of residential, commercial and industrial projects, including Nexus Apartments at Bowden.
Development & Advisory Managing Director, Ben Yates, said they are excited to be part of the regeneration of Bowden, which he said is setting a new standard for development in Adelaide.
"Bowden is delivering a lot of value to people buying now with key infrastructure being delivered in the next 12 months, including a new town square and a retail precinct in the Plant 4 building by the operators of the highly regarded Market Shed on Holland," Mr Yates said.
The $1 billion Bowden development will see the construction of more than 2,400 homes for approximately 3,500 new residents over the next 10–12 years.