The Prospect site is only seven kilometres from the Adelaide CBD and 12 kilometres from Semaphore Beach and is well connected to existing transport infrastructure. The Islington train station is adjacent to the site.
The development will provide a range of housing options, including townhouses and apartments. 55% will be affordable housing at $422,050 or less.
As master developer, Renewal SA will partner with private developers and builders to create 180 new homes (comprising 108 townhouses and 72 apartments). The selection of these partners will be via competitive tender process commencing in early 2022.
About the Prospect Project
The project will generate an average of 60 full-time equivalents (FTEs) jobs annually, peaking at 144 FTE per annum midway through the project. The development will contribute approximately $44 million to Gross State Product and provide a positive financial return for the government.
A minimum of 55% of the dwellings created will qualify for the state government affordable housing initiative HomeSeeker SA.
Initiatives such as shared equity will be utilised to enable townhouses to qualify as affordable housing.
The project will contribute towards affordable housing solutions and the state government’s Our Housing Future Strategy 2020-2030.
Renewal SA’s Works Program will deliver training programs, and work experience placements will be provided to disadvantaged youth via the project’s capital works contracts and major consultancies.
Project Progress and Status
A masterplan for the site, which abuts Islington Railway Station, is expected to be complete during the first quarter of 2022.
A competitive tender process for developers and builders will commence in early 2022.
Construction activity on site is expected to occur from late 2022.
Renewal SA will deliver
55% of dwellings as affordable housing. The affordable housing scheduled to be delivered is almost four times the 15% statutory obligation required in the Planning and Development Code.
High-quality public open space and extensive tree planting to increase tree canopy cover
Improved connections and access to existing public transport and pedestrian/cycling links.
Opportunities for builders and developers through a competitive tender process, enabling housing construction stimulus and job creation from late-2022
Access to homebuyers to new detached dwellings at a price rarely found within 10 kilometres of the Adelaide CBD.
If you have any queries regarding the community engagement for Prospect please contact the Renewal SA Engagement Team: