[COM] 104-106 Currie Street | 117m | 33lvl | Sofitel Hotel

[HiTouch]

I hate the Labor Communist government more than anyone here, but I highly doubt 5 million dollarydoos will lead us into a second state bank collapse.

[Mr Smith]

Anyways, whose excited for not one, not two, not three, but four buildings under construction over 100m this year! Kodo, Realm, Adelaidean and now this one!

This time next year, people are really going to start turning their heads to the sky.

Potentially 5 - 269 North Tce

[HiTouch]

Anyways, whose excited for not one, not two, not three, but four buildings under construction over 100m this year! Kodo, Realm, Adelaidean and now this one!

This time next year, people are really going to start turning their heads to the sky.

Potentially 5 - 269 North Tce

I would say Echelon is more likely than 269 so potentially 6!!!!!!

[Patrick_27]

I highly doubt 5 million dollarydoos will lead us into a second state bank collapse.

Maybe not one $5m hand out but if this becomes a regulatory thing to bring doomed development to fruition here in Adelaide, I wouldn't doubt the likelihood of another collapse so much, let's also not forget what our State's current debt sits at.

[Ben]

Anyways, whose excited for not one, not two, not three, but four buildings under construction over 100m this year! Kodo, Realm, Adelaidean and now this one!

This time next year, people are really going to start turning their heads to the sky.

Potentially 5 - 269 North Tce

I would say Echelon is more likely than 269 so potentially 6!!!!!!

269 is definitely happening and will be sooner than later

[Algernon]

Anyways, whose excited for not one, not two, not three, but four buildings under construction over 100m this year! Kodo, Realm, Adelaidean and now this one!

This time next year, people are really going to start turning their heads to the sky.

Potentially 5 - 269 North Tce

I would say Echelon is more likely than 269 so potentially 6!!!!!!

Forget about Echelon. Every red flag in the business. Developer says "look at my track record" - red flag. When you fall for it and actually look at their track record... and find they're making the jump from some townhouses to 2 30+ storey skyscrapers - red flag. Developer says he will "buy" the penthouse, such is his confidence in the development - you're not buying crap, every other buyer is building you a free penthouse, red flag. Targeting a market nobody has ever heard of - South Ausralian Retiree High Rise Apartment Living. Red flag.

Never even gave that development a second thought.

[floplo]

Forget about Echelon. Every red flag in the business. Developer says "look at my track record" - red flag. When you fall for it and actually look at their track record... and find they're making the jump from some townhouses to 2 30+ storey skyscrapers - red flag. Developer says he will "buy" the penthouse, such is his confidence in the development - you're not buying crap, every other buyer is building you a free penthouse, red flag. Targeting a market nobody has ever heard of - South Ausralian Retiree High Rise Apartment Living. Red flag.

Never even gave that development a second thought.

I doubt that the apartment side of things is really the problem, they probably don't have that much lower sales numbers than Palumbo has for this building (as Realm and Adelaidean both pulled it off and they offer a similar proposition). The main difference seems to be that with the hotel and sofitel contract they have a main tenant guaranteed for this while there doesn't seem to really be anything similar for the Echelon office components.

[Ser Noit of Loit]

Anyways, whose excited for not one, not two, not three, but four buildings under construction over 100m this year! Kodo, Realm, Adelaidean and now this one!

This time next year, people are really going to start turning their heads to the sky.

It is going to make a big skyline difference when in a couple of years what are currently our first and second tallest buildings will be the third and sixth tallest.

I'm looking forward to taking pictures of the skyline. There's a thread for it in the Australian section of Skyscrapercity.

[YellowRoad]

Hope this doesn't set a precedence resulting in more developers sticking their hands out looking for the government to make up the difference..

Can't wait to see what this does for this section of currie st however, is desperately in need of some new life.

[Mpol03]

From the tafe right through to Leigh st... all of these buildings are dire. They could do so much in he way of height and density in this area, it could totally transform.

[how good is he]

I am also pretty sure that the $5m low interest loan is tied/conditional on creating new jobs. Currently they are already giving $10,000 per new job created . I read this project will employ 400 for construction and create 120 new long-term jobs with the hotel etc. Remember also the State Govt will collect many millions with the stamp duty on all the apartment sales as well as all the other fees/taxes it generates from it in perpetuity [ie Land Tax, Workcover, SA Water Charges, ESL etc etc] .

[ml69]

I highly doubt 5 million dollarydoos will lead us into a second state bank collapse.

Maybe not one $5m hand out but if this becomes a regulatory thing to bring doomed development to fruition here in Adelaide, I wouldn't doubt the likelihood of another collapse so much, let's also not forget what our State's current debt sits at.

Australian banks are now MUCH MORE tightly regulated than back then by APRA. It is one of the main reasons why Aussie banks came through the GFC in 2008 in much better shape than the rest of the world.

Recently APRA have tighten controls on the banks once more against a backdrop of potential oversupply of apartments particularly in Melbourne and Brisbane. Have you tried apply for a home loan lately? It's much more harder to get approved than 2 years ago.

In short, we are a world away from the free-wheeling lending of the late 80's and early 90's.

[Jaymz]

This project was also reported in the business section of The Australian today and it did mention the $5 million low interest loan from the S.A Govt. The same article also reported the announcement by Crowne Plaza to be anchoring the new Adelaidean tower. Between the 2 of them they represent about 600 new high end hotel rooms in the CBD, plus apartments.

[citywatcher]

I hate the Labor Communist government more than anyone here, but I highly doubt 5 million dollarydoos will lead us into a second state bank collapse.

Do people still talk like this ?

Sent from my SM-J730G using Tapatalk

[HiTouch]

Australian banks are now MUCH MORE tightly regulated than back then by APRA. It is one of the main reasons why Aussie banks came through the GFC in 2008 in much better shape than the rest of the world.

Recently APRA have tighten controls on the banks once more against a backdrop of potential oversupply of apartments particularly in Melbourne and Brisbane. Have you tried apply for a home loan lately? It's much more harder to get approved than 2 years ago.

In short, we are a world away from the free-wheeling lending of the late 80's and early 90's.

Totally true. Its a good thing.

Governments dont have that sort of regulation which is a concern but a 5 million dollar pledge isnt an issue. Conservative governments do it all the time.

I hate the Labor Communist government more than anyone here, but I highly doubt 5 million dollarydoos will lead us into a second state bank collapse.

Do people still talk like this ?

Sent from my SM-J730G using Tapatalk

Yes. The Labor government are smoke and mirrors. Their issues arent their investments. Their issues are the motives behind their investments and the clauses to their investments.
They're the red terror.