[CAN] [The Precinct] | 58m | 5 x 18lvls | Apartments

[Will]

Maybe it's a retrospective application?

[rev]

Maybe they were privately owned apartments that Oaks now has control of?

[Uncle Monty]

Oaks are definately in 'The Gallery' as signage is on Morphett St, but maybe not in 'Altitude' as yet???

[UrbanSG]

Confirms what we all expected ... looks as though Urban Construct's days in Adelaide will be limited to completing the Balfours stage of the development, although I won't hold my breath waiting, despite the 3-6 month timeline for restarting this stage.

Urban's $900 million Franklin St project scrapped
by: Chloe Kennedy
From: City Messenger
July 05, 2012 11:13AM

A PLAN to build 540 apartments on the former Franklin St bus station site has been scrapped, with the City Council forced to abandon the final stage of a $900 million development.

The council has confirmed the second stage of the city's largest residential development will not go ahead after it dissolved part of its contract with Urban Construct and Brookfield Multiplex.

City Council project manager Mike Philipou said the site would be returned to the council because the developers had not met set timeframes.

Mr Philipou said poor pre-sales of apartments in The Precinct development were to blame for part of the contract being dissolved.

"The existing contract called for the sequential development of the sites," he said."

''As a result of the soft (property) market those development timeframes were at risk."

Elected members have discussed the issue behind closed doors several times in the past year, with its most recent discussion at last Tuesday's meeting (June 26).

Mr Philipou said the council would now look at its options for the reclaimed land, which could include selling it or entering into another joint venture.

They would look at a mixed-use residential development, with commercial and retail space on the ground floor, he said.

"This (site) location is strategically between the Central Market and the railway site and is very important for the city," he said.

"We are still considering our options on the site.

"The first thing is to understand the best development use for the site."

About 6900sq m of land on the bus station site and 670sq m of land on the former Balfours site, on the corner of Morphett and Franklin streets, have been handed back to the council.

The Precinct development masterplan was approved by the council in 2006 and included 1300 apartments over two sites.

Four other apartment towers on the old Balfours site, with about 650 apartments, will continue to be completed by Urban Construct and Brookfield Multiplex, with work set to re-start in the next three to six months.

Urban Construct and Brookfield Multiplex would not comment on the contract with the City Council.

Acting Lord Mayor David Plumridge said the council would work with the State Government and developers to look at how best to develop the site.

"We want to see a development that will stimulate activity, provide business opportunities, increase the city's residential population and support housing choice and social mix," he said.

The City Council's decision comes less than a year after the State Government axed its contract with the Urban Construct-led Newport Quays consortium, following years of delays in the development of the Port Adelaide waterfront.

[rogue]

Note to developers - provide us with something more than a tiny hotel type room and sales may improve

[Waewick]

Note to developers - provide us with something more than a tiny hotel type room and sales may improve

agreed

IMO, this development single handely destroyed the apartment market in Adelaide

[crawf]

I'm so glad to hear about this, The Precinct has failed written all over it from it's ugly low rise schooling block to that eyesore on Franklin St. Even Attitude is nothing to rave about.

Hopefully now we will finally see something happen to the old Bus station, considering the potential being next to Chinatown and developments along Franklin Street. AND hopefully the State Government extends the unlimited height zone to here, so then the site can be used to it's full potential.

[Ben]

This is interesting and slightly concerning

Four other apartment towers on the old Balfours site, with about 650 apartments, will continue to be completed by Urban Construct and Brookfield Multiplex, with work set to re-start in the next three to six months.

1 is the loft another school block, 2nd is another 18 storey tower what are the other 2? And how many decades do they have to complete them?

[Reb-L]

I hope The Loft will never see the light of day - at least if it's anything like The Gallerie in Morphett Street. Cannot imagine a more unimaginative building.
The land next to the bus station is perfect for some real towers - minimum should be at least 25 storys. This will become the center of the city because it's the most underdeveloped area within the CBD.

[adam73837]

I agree. The close proximity to Chinatown and Victoria Square gives this site a lot of potential. Also given the recent City Central Developments nearby, this whole area could become a buzz of activity.

[mshagg]

Oaks are definately in 'The Gallery' as signage is on Morphett St, but maybe not in 'Altitude' as yet???

Yes, lots of rooms in altitude are managed by Oaks. Im constantly receiving letters from Whittles (strata managers) reminding me that "throwing stuff from the balconies is against strata by-laws", thanks to the bogan morons who frequent oaks serviced apartments for weekend accomodation in Adelaide. Im only a tenant and am quite fond of my apartment but geez if i was an owner i'd be going after the developers, although that's probably an exercise in squeezing blood from a stone at this stage. They really did screw the pooch on this.

The retail component of the precinct has really come to life in the last two months, with a tax and accounting office taking up residency in the ground floor of altitude. Really adds to the cosmopolitan feel of the development lol.

They need to do something with the mess they've left on the franklin st site where loft was supposed to go.

[Ben]

Action call for bus station site

Business10 Jul 12 @ 09:00am by Chloe Kennedy

THE Grote Business Precinct is calling on the City Council to investigate ways to revitalise the former Franklin St bus station site, after it was revealed a residential development planned for the land would not go ahead.

Precinct president Terry Peacock said it was important to maximise the use of the space for residents, traders and people visiting from interstate or overseas, given it could be years before work on a new development started.

Mr Peacock said the group wanted the area to become an entertainment hub, to bring tourists, residents and traders together.

"It is about bringing the residents out of the high-rises and giving them a place to engage with others," he said.

The City Messenger revealed last week the City Council had been forced to abandon the final stage of a $900 million development on the bus station site.

The council had disolved part of its contract with urban Construct and Brookfield Mutiplex after the developers had not met set timeframes.

[phenom]

I'm really in two minds over that call. I'm the first to admit the old bus station site is a mess and not really projecting the 'image' we might want to but I think we all know if something nice was made with that area then it will become a veritable no go zone for any future development because instead of replacing a run down shambles you'd be destroying a 'community meeting point' and may even have to cut down trees etc.

On the other hand, there's so many apartment proposals and sites on the go right now (including the massive Mayfield site) that I think the sites originally earmarked for the Precinct towers are unlikely to be called upon for quite some time even in the most optimistic of scenarios.

[thoughtfactory]

I agree with phenom. I was there photographing today--http://poodlewalks.wordpress.com/2012/1 ... nge/---its basically a high rise dump. And its dead. This development ain't going to revitalize Adelaide. There is no sign of any other building being constructed. The other development won't be completed in the near future.

[Reb-L]

Anybody know what's happening here? Fenced off, lots of shipping containers and the (few) people there say it's a construction site but not much more. Some kind of temporary storage area for upcoming events?