[CAN] 322 KWS - Echelon | 114m | 2 x 31 Lvls | Mixed Use

[rev]

It will be Student Accom.

Is that speculation or fact?

Speculation based on the business lingo they use. The phrase " a change in those being appealed to (future clientele)" never means 'we are going up-market'. It means 'we aren't making sales, we need to widen our reach and make it cheaper". The city's audience is generally either Upper-class or Student residents so if they're not going for Upper-class, they're most probably going for students.

What if they go for a mix of residential, hotel, and retail?
There's many big hotel chains we don't have in Adelaide. Not every hotel has to be an Oaks or Mantra.

[skyliner]

Ben, u mentioned the info I found out was speculation. If you dont really know this, to say what the people at Lumineque told me is assumption is not a good base to proceed with in logic. I also understand that it is their business to know the industry into which they are entering with Luminesque. Bald assumptions do not form part of this.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[how good is he]

The logical conclusion with Karidis as owner/developer is these will be serviced apartments (with commercial on the ground). Considering he already has many similar sites that he manages as such. It would be far more likely than student accom. (which he has never run/developed before). Further the returns are usually higher with serviced apartments and have a bigger market to sell to - both owner occupiers & investors. So instead of being 5 star, I think it will actually do better as a 3.5/4 star operation. Plus with the tram at your door both tourists, business travellers & students can/will rent them also.

[Mpol03]

I would hope the original design remained but I won’t hold my breath.

[HiTouch]

Ben, u mentioned the info I found out was speculation. If you dont really know this, to say what the people at Lumineque told me is assumption is not a good base to proceed with in logic. I also understand that it is their business to know the industry into which they are entering with Luminesque. Bald assumptions do not form part of this.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

The people you met at Luminesque may have been contracted Promotions people with little experience or knowledge of the actual development apart the basics in order to sell the product. Often these development showrooms are full of those people. They may have heard that May is when construction was meant to start which obviously isnt the case. There's often a big gap in communication between the promoters and the decision makers. It's the same with the people Ben spoke to.

Unless you spoke to someone who has a hand in the development.

[Will]

In further evidence this development is dead, the old Trims site as well as the former display suite are now "for lease"

https://www.realcommercial.com.au/prope ... -502890154

https://www.realcommercial.com.au/prope ... -502890330

[Mpol03]

I wonder why this didn’t work? Was it the marketing ? Who was this aimed at? I’ve heard it was geared toward retirees?

[rev]

I wonder why this didn’t work? Was it the marketing ? Who was this aimed at? I’ve heard it was geared toward retirees?

From what I understood it was to be a high rise retirement village essentially.

It was probably the better design of the 100m+ proposals imho. Shame they couldn't rework it and gear it towards being residential apartments on the upper levels, throw in a hotel somewhere below, and some retail on ground level. Two decent looking blue glass towers on the skyline, what a big positive impact that would have had.

[Ho Really]

I wonder why this didn’t work? Was it the marketing ? Who was this aimed at? I’ve heard it was geared toward retirees?

From what I understood it was to be a high rise retirement village essentially.

It was probably the better design of the 100m+ proposals imho. Shame they couldn't rework it and gear it towards being residential apartments on the upper levels, throw in a hotel somewhere below, and some retail on ground level. Two decent looking blue glass towers on the skyline, what a big positive impact that would have had.

It was a novel idea. Credit to Karidis, however I'm not sure the grand majority of retirees want to go up and down lifts and stairs. Surely they prefer a low maintenance unit in the burbs or in a campervan travelling. Like you said rev this should have been rejigged. Perhaps Karidis is looking at this, we can only hope. Those towers did look impressive.

Cheers

[Pikey]

I wonder why this didn’t work? Was it the marketing ? Who was this aimed at? I’ve heard it was geared toward retirees?

From what I understood it was to be a high rise retirement village essentially.

It was probably the better design of the 100m+ proposals imho. Shame they couldn't rework it and gear it towards being residential apartments on the upper levels, throw in a hotel somewhere below, and some retail on ground level. Two decent looking blue glass towers on the skyline, what a big positive impact that would have had.

It was a novel idea. Credit to Karidis, however I'm not sure the grand majority of retirees want to go up and down lifts and stairs. Surely they prefer a low maintenance unit in the burbs or in a campervan travelling. Like you said rev this should have been rejigged. Perhaps Karidis is looking at this, we can only hope. Those towers did look impressive.

Cheers

Essentially U City is what was proposed here function wise, just on a smaller scale. There is a desire for inner city retirement living, I would say the value proposition with U City, along with how it was marketed shows why one is close to topping out, and the other has disappeared.

[Algernon]

From what I understood it was to be a high rise retirement village essentially.

It was probably the better design of the 100m+ proposals imho. Shame they couldn't rework it and gear it towards being residential apartments on the upper levels, throw in a hotel somewhere below, and some retail on ground level. Two decent looking blue glass towers on the skyline, what a big positive impact that would have had.

It was a novel idea. Credit to Karidis, however I'm not sure the grand majority of retirees want to go up and down lifts and stairs. Surely they prefer a low maintenance unit in the burbs or in a campervan travelling. Like you said rev this should have been rejigged. Perhaps Karidis is looking at this, we can only hope. Those towers did look impressive.

Cheers

Essentially U City is what was proposed here function wise, just on a smaller scale. There is a desire for inner city retirement living, I would say the value proposition with U City, along with how it was marketed shows why one is close to topping out, and the other has disappeared.

U City is basically being built by the Uniting Church. They had a ready made market, and their crowd aren't going to dog their own church and buy elsewhere. Also they have other related infrastructure like hospitals and retirement homes, so plenty of cross sell.

[Ben]

Probably will try and demolish it and turn into a carpark like his Pulteney Street site.

[Jaymz]

Essentially U City is what was proposed here function wise, just on a smaller scale. There is a desire for inner city retirement living, I would say the value proposition with U City, along with how it was marketed shows why one is close to topping out, and the other has disappeared.

Well yes and no, both developments were targeted at retirees but at opposite end of the spectrum.

Echelon aimed to attract the well-heeled, self funded retiree wanting to downsize in a luxurious type setting,
while U-City has a large affordable living componenet subsidised by the Government as far as i'm aware.

[Pikey]

Thread cleaned up.

Let's keep it civil, okeedokee?

[Nort]

With the recent boom in taller buildings I'll cross my fingers that someone decides this site would be perfect for a new tallest residential.