Bank Street re-opens as a shared zone
Following completion of the Market to Riverbank link Stage One construction, Bank Street has re-opened to vehicle traffic and is now a shared zone for pedestrians, cyclists and vehicles.
The shared zone is one-way from North Terrace and has a speed limit of 10 km/h with pedestrians having the right of way. Four 30-minute loading zone bays will continue to be available along Bank Street.
Renewal SA and the City of Adelaide have been working in partnership with local traders to implement a shared zone following successful stakeholder consultation.
Now, Bank Street has been permanently transformed into a pedestrian friendly environment providing traders the opportunity to expand their business through outdoor dining, creating a more attractive space for new and existing businesses to thrive.
The $14.6 million Market to Riverbank link transformation of key laneways and streets in Adelaide with the on-schedule completion of Stage One, in Bank Street and Topham Mall North.
Bank Street, the northern gateway into the Market to Riverbank link, and Topham Mall North, the heart of the link, have been transformed with lighting, paving, greening, street furniture and public art installations.
“The CBD laneways have developed into Adelaide’s vibrant core.” – The Hon John Rau, Minister for the City of Adelaide
This will increase foot traffic from 15,000 to 21,000 pedestrians each day by 2019, have a total of $34 million impact on local economy and create over 100 jobs.
“Improvements to this important pedestrian link through the city will also encourage more business investment in our CBD; creating jobs and promoting growth.” – The Lord Mayor of Adelaide, Martin Haese
Renewal SA and City of Adelaide have jointly invested $1 million for placemaking initiatives to further economic vitality and job creation by providing opportunities for businesses, entrepreneurs and creative thinkers to activate the small streets and laneways of the Market to Riverbank link.
As part of this funding, $200,000 has been allocated for the Shop Front Improvement program that will enable businesses and property owners to match the grant funding.
These shop front visual improvements aim to create further economic benefits through stimulating small business growth, creating more jobs and encouraging new business and private investment.
The renewal of the laneways has been shaped by the community, small businesses and local traders through the engagement with Renewal SA and City of Adelaide.