[U/C] 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

[Waewick]

the signs are down around the site?

I'm not sure when that occured.

[Ben]

I think Major Project Status has been cancelled too. So they need to apply all over again if they even intend to ever build.

[Waewick]

i thought the whole MPS thing went the way of Mike Rann?

[Ben]

I just mean in general. As in they need to submit a whole new application under current planning laws - probably a good thing for them anyway as they can now go higher.

[Waewick]

well hopefully this leads to some movement at the station.

[rev]

Controversial Le Cornu site in North Adelaide is back on developers' agenda



AFTER more than 20 years and a series of failed proposals, another attempt is being made to develop the controversial former Le Cornu site at North Adelaide.

Billionaire property developer Lang Walker has breathed life back into the O'Connell St project, joining the Makris Group in a joint venture arrangement to develop the site, which has been vacant since 1989.

Together, the two developers are preparing new plans for a $200 million mixed-use project, comprising high-end boutique retail shops, cafes, restaurants and office accommodation.

Final designs are being prepared and will include a mix of one, two and three-bedroom apartments and penthouses on upper levels.

In November, Makris Group chairman Con Makris said soft apartment and retail markets meant the site would remain a grassy lot until economic conditions rebounded. But yesterday he said the involvement of a major, national residential player meant the latest plans were sure to get off the ground - by the third quarter of next year.

"He's a straight shooter like myself," he said.

Mr Makris said he would retain ownership of the retail, office and car parking components of the development, with Mr Walker responsible for selling the apartments. Tenants have not yet been secured, but Mr Makris said he was in final negotiations with a major European department store to anchor the retail space.

"It's one of the best in Europe with more than 200 stores," he said.

"It (the project) was worth waiting for. I can thank all my enemies over there who delayed the project because it was worth the wait - I'm happier now."

Walker Corporation executive chairman Lang Walker said the State Government's recent changes to CBD planning had inspired him to get involved in the project.

"The project is well positioned to capitalise on the growing demand from buyers who want to live in the highly sought after North Adelaide precinct," he said.

Property Council SA executive director Nathan Paine was confident the project would get off the ground, despite difficulties facing the residential market.

"It's been a blight on the psyche of Adelaide," he said.

http://www.adelaidenow.com.au/news/sout ... 6438908658

I'm surprised none of you with so much to say, have not posted this yet..

[AG]

Lang Walker sure has been busy in Adelaide over the past couple of years. He's already got a number of industrial and residential estates in Adelaide's north to his name including Buckland Park.

[Waewick]

ha- finally the freaking announcement

[UrbanSG]

Yawn, believe it when I see some actual construction on this site, which would be a while off as we wait for the next proposal to surface.

What number proposal will this be for this site after two decades of wanking around?

[Waewick]

the improvement clearly being Walkers involvement,

Given he has built Blue Stone at Mount Barker virtually on spec he clearly isn't a twiddle your thumbs type of guy.

[Nort]

in November, Makris Group chairman Con Makris said soft apartment and retail markets meant the site would remain a grassy lot until economic conditions rebounded

Statements like that are unacceptable really, on sites like this I would be completely in favor of a "use it or lose it" rule.

As for the department store, anyone got any guesses? With the size of the site a Marks & Spencer would be a good fit but that has a lot more stores than 200.

[dsriggs]

by the third quarter of next year

Welp.

[rev]

in November, Makris Group chairman Con Makris said soft apartment and retail markets meant the site would remain a grassy lot until economic conditions rebounded

Statements like that are unacceptable really, on sites like this I would be completely in favor of a "use it or lose it" rule.

As for the department store, anyone got any guesses? With the size of the site a Marks & Spencer would be a good fit but that has a lot more stores than 200.

How many residential developments in the CBD have fallen through because apartments weren't selling?
You can't really blame him, or any developer, for not wanting to invest their money in projects that aren't viable. If apartments aren't selling, there's not much point investing in a development featuring apartments.

I agree it shouldn't have been left like that for so long. At the very least open it up to the public as a green space till a development is ready to go ahead.
Too late now though.

[Nort]

in November, Makris Group chairman Con Makris said soft apartment and retail markets meant the site would remain a grassy lot until economic conditions rebounded

Statements like that are unacceptable really, on sites like this I would be completely in favor of a "use it or lose it" rule.

As for the department store, anyone got any guesses? With the size of the site a Marks & Spencer would be a good fit but that has a lot more stores than 200.

How many residential developments in the CBD have fallen through because apartments weren't selling?
You can't really blame him, or any developer, for not wanting to invest their money in projects that aren't viable. If apartments aren't selling, there's not much point investing in a development featuring apartments.

I agree it shouldn't have been left like that for so long. At the very least open it up to the public as a green space till a development is ready to go ahead.
Too late now though.

I'm not saying that they should be forced to build apartments there, but instead they should be made to do something. Even making it an open green space like you said would be better than leaving a derelict lot in a location like this.

[Waewick]

the problems is - the developer spends their money making it a green space....then goes to start the development only to have outrage that the green space is being removed.

better to leave it in a state that people will actually want the change.