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

[Smithy84]

Apartment sales have hit 20% ahead of the official launch tomorrow night, according to the Tiser.

[PeFe]

The In Daily article

'Strong sales' for redeveloped Le Cornu site ahead of construction

The developer tasked with transforming North Adelaide’s notoriously vacant old Le Cornu site says he has already sold 20 per cent of the value of the $250 million project, with the majority of interest coming from local residents.


Commercial & General has released new renders of its Eighty Eight O'Connell project.

Commercial & General executive chair Jamie McClurg said he has received “strong sales” for the planned three-tower residential, retail and commercial development at 88 O’Connell Street in North Adelaide ahead of the opening of a display suite this weekend.

The Adelaide-based developer said 1600 people have already registered interest in the project – called Eighty Eight O’Connell – with the majority of interest coming from current North Adelaide residents.

So far, 20 per cent of the value of the project has sold ahead of construction starting in the first half of next year.

The development, designed by architect Woods Bagot, includes two 13-storey towers and one 15-storey tower accommodating retail and commercial space, as well as 160 residential apartments.

It would also include almost 400 off-street car parks over three basement levels and some public space.











Once complete, the development will end 30 years of vacancy at the 7500 square-metre site, following several failed development attempts.

“There’s a sense of excitement because people can now see that, after more than 30 years as a vacant block that has made no contribution to the vibrancy of the community, something is happening that will transform this site and North Adelaide as a whole,” McClurg said.

“To say we have been pleased with the level of enquiry would be an understatement.”

The project is being built on land purchased by the Adelaide City Council for $34 million in December 2017 with the help of a $10 million State Government grant.

At the time, the council paid up to $14 million more than what independent valuers thought the site was worth in order to compete with a mystery prospective buyer.

In December, the council confirmed it had selected Commercial & General as its development partner, with the state’s planning body approving plans in June.

Lord Mayor Sandy Verschoor said the project would be a “catalyst” for North Adelaide.

“This street and this community have been waiting a long time and it’s just fantastic to see the vision becoming a reality,” she said.

But some North Adelaide residents last month launched legal action in an attempt stop the redevelopment from taking place, arguing the towers exceed the hight and scale limits for the neighbourhood, as well as the council’s own guiding principles for the project.

https://indaily.com.au/news/2021/10/06/ ... struction/

[[Shuz]]

The fact that most of the people interested in purchasing an apartment in this development are already from North Adelaide, just goes to show that progress has been hindered all these years by a very vocal minority and in the silent majority were in favour of this development.

Those who objected should hang their heads in shame. They should be made to pay for 30 years of inaction. Thank God common sense prevailed.

[rev]

The fact that most of the people interested in purchasing an apartment in this development are already from North Adelaide, just goes to show that progress has been hindered all these years by a very vocal minority and in the silent majority were in favour of this development.

Those who objected should hang their heads in shame. They should be made to pay for 30 years of inaction. Thank God common sense prevailed.

I think them having to see this development go ahead is punishment enough, but just to be sure more development should happen.

Theyre not the main problem, politicians are. They pander and cave to them from infrastructure projects to developments like this site.

[Spotto]

Theyre not the main problem, politicians are. They pander and cave to them from infrastructure projects to developments like this site.

*cough, cough* cancelling Hove Crossing to pander to a few grumpy residents and screwing over thousands of commuters and road users *cough, cough*

[how good is he]

The real issue was the preferred outcome was a train underpass which was costed at a massive $450m [vs an overpass at $290m]. The original budget was $171m [ie. So a $120m blow out if an overpass and a $280m blowout if an underpass] which the Federal Govt wasn't willing to contribute to, therefore the State Govt wasn't able/willing to fund it alone.
The Libs also blamed the previous Labor Govt for under costing the original budget work and also only doing 5% of the planning work blah blah blah...
ps. Mods feel free to move these comments to Hove Crossing/the correct topic.

[gnrc_louis]

Quote at the bottom states 40% of apartments have sold.

Commercial & General lodge new plans for former Le Cornu site amid legal challenge against $250m towers

Developers of the $250m apartment towers on North Adelaide’s most notoriously vacant block of land have lodged new plans in the wake of a legal challenge.

November 9, 2021 - 3:36PM

Developers of the contentious $250 million former Le Cornu site at North Adelaide have lodged fresh plans in a bid to protect the project from a legal threat.

Commercial & General has filed a replica planning apartment and retail tower application for 88 O’Connell St, five months after the state’s planning authority approved an initial plan for a 15-storey tower flanked by twin 13-storey buildings.

A group of North Adelaide residents want the Environment Resources and Development Court to quash the approval, claiming the design exceeds an eight-storey height limit supported by the public and is inconsistent with the heritage conservation zone.

The matter is scheduled for a two-day hearing in January.

Commercial & General chief executive Trevor Cook said the new application, lodged under new planning and design code introduced in March, was identical to the existing application under the previous planning system.

The duplicate plans are intended to “mitigate risk” fron the legal challenge.

“This second approval is the belts and braces,” he said.

“No litigation has ever been with zero risk … to secure a planning approval under the planning and design code is prudent for us to do in the circumstances.

“We ultimately do not control the outcome of the court process and we want to maintain the momentum we have in the market and community in starting this project in June.”

He said a court decision may not be known until April.

He said his company was confident in winning the court challenge but securing a second approval would give “rock-solid confidence” to project partners, the community and buyers.

“It is our expectation that SCAP (State Commission Assessment Panel) will make the same decision as last time,” he said. He acknowledged that opponents could also appeal a second approval.

A brief description of the new proposal on the Plan SA government website describes the project as having an extra level on each tower.

Commercial & General project director Tony Perrin said that included lift shafts and that the height of the buildings and the 160 apartments would be the same as the approved design.

Adelaide City councillors Phil Martin, Anne Moran and Keiran Snape wrote to the council’s chief executive Clare Mockler on November 8 requesting a November 16 special meeting citing concerns elected members had not been told about the new plans.

Cr Martin told The Advertiser it was “extraordinary” a new application had been lodged without discussion with elected members.

“More particularly, from my perspective, is what implications could it have for the contract (between the council and developer),” he said.

The council paid $35m for the former Le Cornu site and is a joint venture partner in the high-rise plan.

Mr Cook said council administration were aware of the amended design. He said 40 per cent of apartments have sold or pre-sold.

The company expected the new plans would go out to public consultation within a fortnight and be considered by SCAP before Christmas

[rev]

Part of the article says the plans lodged again are identical to what was approved already, then further down it says there's an additional level in the newly submitted plans.

[Smithy84]

50% of the apartments have sold according to the developers.

[how good is he]

So based on a figure of say 80% apartment pre-sales to proceed, they would need approx. 50 sales to go [from 160 total].

[timtam20292]

Did anyone else see the 7news report about this development last night?

[Mpol02]

Oh what now??

[AG]

The initial appeal against the development was launched by a North Adelaide resident, who now no longer lives there as she has moved to Queensland. Most likely the case will get thrown out of court as a result.

[HiTouch]

The initial appeal against the development was launched by a North Adelaide resident, who now no longer lives there as she has moved to Queensland. Most likely the case will get thrown out of court as a result.

Lol The spirit of Makris lives on.

[Smithy84]

The appeal has been thrown out.

C&G maintain that construction will start in April.