THE South Australian Government last week called for tenders for early works on the $220 million Adelaide Festival Plaza redevelopment following the signing of two key agreements that allow the 25,000 square metre development to proceed.
The agreements also allow for a $430 million development by Walker Corporation including an office building, retail area, car park upgrade and investment into the Festival Plaza - as well as the $300 million SKYCITY Adelaide expansion.
Premier Jay Weatherill said the Festival Plaza will become a landmark site in the heart of Adelaide's Riverbank Precinct, bringing together all of the precinct's icon sites such as the Adelaide Oval, the Festival Centre, the Convention Centre and the Riverbank Bridge.
"The upgraded Festival Plaza will become a unique world-class hub for the arts, culture, tourism and entertainment," Mr Weatherill said.
"It will be defined by a number of key places including, the new square, the northern promenade, integration with King William Street, the Art Space Plaza, a reimagining of Station Road and a new entry to Adelaide Railway Station."
An early works agreement with SKYCITY Adelaide will allow for construction on the first stage of the development to lower Festival Drive, separating pedestrians from vehicles.
The other agreement with Walker Corporation will allow for the proposed redevelopment of the public space, an office building, car park and retail area from later this year.
Housing and Urban Development Minister Stephen Mullighan said the agreements are the result of a complex set of negotiations between the key parties – Walker Corporation and SkyCity – as well as a number of other precinct stakeholders, such as the Festival Centre and the InterContinental Hotel.
"The early works to lower the Festival Drive will eventually improve pedestrian access throughout the precinct, particularly between the Riverbank Bridge and the train station for crowds heading to Adelaide Oval, though there will be some disruptions in the meantime," the Minister said.
More information is available from the Riverbank Authority website at <https://riverbank.sa.gov.au/adelaide-festival-plaza-upgrade/>.