Adelaide Festival Centre to get $400 million overhaul
PRIVATE investors will be invited to help pay for a proposed $400 million re-development of the Adelaide Festival Centre amid warnings touring shows will bypass the venue unless it is upgraded.
The Sunday Mail can today reveal that Arts Minister John Hill has presented a business case to Cabinet calling for a multi-million-dollar overhaul of the centre and surrounding festival plaza.
The business case - prepared by consultants Ernst & Young - recommends a decade-long investment program, including:
- * A 350-SEAT theatre and a cinema added to the Dunstan Playhouse complex;
* NEW foyers and rehearsal spaces throughout the centre;
* EXPANDED four level, 1360 space carpark;
* A PLAZA revamp - already flagged in the Riverbank Precinct Masterplan - creating a single-level "Festival Square" with cafes, a super-screen and other facilities for community and arts events, modelled on Sydney's Opera House forecourt and Melbourne's Federation Square;
* LANDSCAPING to open views and access between the River Torrens and King William St, and;
* A NEW children's playground.
The proposal also recommends a daily program of entertainment to cement the centre as the city's natural gathering point, linked to an upgraded Adelaide Oval. Crucial to the funding plan is a proposed multi-level commercial building to be built next to Parliament House.
The 10-year plan forecasts a range of economic dividends from the investment.
An artist's impression of the Festival Centre precinct. Picture: Chris Mangan Source: AdelaideNow
However, with the State Government struggling with broader economic issues, it appears major funding will come from the private sector, with firms invited to be joint partners in retail, hospitality and other associated ventures.
The 2011-12 State Budget provided $750,000 for preliminary work, including the business case which estimated the redevelopment's economic potential at $2.82 billion over the next 24 years, creating about 26,000 full-time direct jobs and employment in related areas such as hospitality, retail, accommodation and transport.
It forecasts attendances to shows will quadruple with an upgrade in coming years, while warning that unless something is done, "shows increasingly will not come and audiences will decline".
The 40-year-old Festival Centre was singled out in a 2010 Arts SA report criticising the state of Adelaide's arts venues.
Last September, the Sunday Mail revealed former Premier Mike Rann was pushing for an upgrade of the centre and that funding for a masterplan was being put aside.
Festival Centre chief executive Douglas Gautier said the upgrade could be funded by a mix of public and private investment.
"This infrastructure is necessary both for the AFC to retain its place as one of the Asia Pacific region's premier performing arts and entertainment facilities and for the Riverbank Precinct to become a fully integrated and iconic public space," he said.
"This big picture imperative requires the delivery of a world class arts, recreation and leisure precinct.
"It is more than just moving people in and out - it is about giving them great reasons to stay within it."
Mr Hill's media spokeswoman said any future funding for the centre could include private sector investment as demonstrated by similar arts-based developments overseas.
"It is just a proposal at this stage and was not funded in the last Budget, but it is important to have the planning work done," she said. The centre averages 900,000 attendances a year, at more than 1100 events.
Spending on the Riverbank precinct already includes $535 million on the Adelaide Oval redevelopment, a $30 million oval carpark and wetlands, $394 million on the Adelaide Convention Centre expansion and footbridge, and the $1 billion Bowden-Brompton development.