Two apartment buildings have been completed at Renewal SA’s Prospect Corner development, meaning more than three-quarters of the homes are now complete or under construction, with dozens of residents living in the new community while homes continue to hit the market.

Kennett Builders have finished construction on two large apartment buildings, encompassing 100 homes, on either corner of the precinct, with residents already moving in.

The 29‑home, multi-storey apartment building on the southeastern edge of the development was completed in February and fully occupied within weeks.

On the opposite corner, an eight-storey building with 71 apartments recently achieved practical completion and residents are expected to begin moving in this week.

These completions mark the first of several milestones for the project in 2026.

Peter Gatsios, Renewal SA’s Executive Director Residential Project Delivery and Assets said the year ahead would be transformative for the Churchill Road site.

“We have been moving at pace to maximise delivery for this project over the past two years, and 2026 will see tangible, real-life outcomes in the form of a fast-growing and diverse community,” Mr Gatsios said.

Prospect Corner’s original master plan included a single apartment tower with 72 homes.

In 2024, Renewal SA was successful in securing support from the Federal Government’s Housing Australia Future Fund Facility (HAFFF), enabling a second apartment development to be completed, increasing the total yield.

The tenanted 29-home building is being managed by Community Housing Provider (CHP)Junction, offering affordable rental opportunities to eligible tenants through a government-led scheme.

Junction Chief Executive Maria Palumba welcomed the completions and praised the project’s progress.

“Junction is grateful to Renewal SA for their vision and leadership in delivering such a high-quality development in Prospect,” Ms Palumbo said.

“This project demonstrates what is possible when affordable housing is thoughtfully designed, well-located and integrated into areas with strong amenity and access to jobs, transport and services.”

Ms Palumbo said the homes set a new benchmark for quality and inclusion in affordable housing.

“The transfer of these apartments to Junction increases housing supply in a high‑value area and enables us to provide secure, dignified homes for those who don't qualify for public or social housing but struggle with the high costs of renting in the private market,” she said.

Renewal SA is in final stage negotiations with a CHP to manage the recently completed 71 home building.

The apartments offer a mix of studio, one, two and three-bedroom homes.

Designed by Adelaide architects Brown Falconer, they feature contemporary façades combining white render and brown brick, complemented by statement signage.

Both the internal and external spaces feature original First Nations artwork commissioned specifically for the site.

Kennett’s General Manager Anthony Carbone said he was delighted to hand over the two sites on time and on budget, built to elevated sustainability standards.

“Both buildings have been designed with circular economy principals at the forefront and will achieve a 5 star Green Star rating from the Green Building Council of Australia,” he said.

The balance of homes in the precinct includes 108 two- and three-storey townhouses, built by Burbank and BuildTec, which have received strong market interest, with more than 70% already purchased.

Eight homes are currently available, offering a mix of two- and three-bedroom designs. Four of these front the central park and are priced between $769,000 and $995,000, depending on size and layout.

Beyond this, only 18 homes remain, which will be brought to market over the next several months.

Mr Gatsios said the location and proximity to the city, public transport, shops, cafes, restaurants and public spaces made Prospect an appealing location for this new and community.

A rolling program of construction will see work on the remaining homes begin throughout this year and into early 2027.

The first homes and the large central park were completed in spring last year and celebrated with a community welcome event. Thirty additional townhouses are expected to be completed within the next three months.

Renewal SA is targeting construction completion of Prospect Corner in 2028.