Walker Corporation’s $500 million private commercial and retail development at Adelaide’s Festival Plaza has been approved by the Development Assessment Commission (DAC) in another milestone for the redevelopment of the precinct, bringing the $900 million plus redevelopment of the Adelaide Festival Plaza precinct a step closer.
The DAC concluded that the development would bring a range of uses including retail and commercial, which would extensively activate the space during the daytime and the evening, and help to revitalise and rejuvenate the plaza as a desirable place to visit.
The 27-storey office tower will involve the demolition of the existing plaza and the car park, but once completed will include up to three levels of retail development and five levels of parking.
Minister for Housing and Urban Development, The Hon Stephen Mullighan noted, “The Walker Corporation’s development will be a key feature of the transformation, which also includes a $90m refurbishment of the Adelaide Festival Centre, a new entry to Adelaide Railway Station, a new plaza and northern promenade.”
The state government is contributing $180 million towards the Adelaide Festival Centre and Festival Plaza redevelopment with a $40 million contribution from Walker Corporation.
The DAC approval does not include the public realm, which is subject to a separate application by DPTI approved under the crown development application process.