[APP] 75-79 King William Street | 44m | 10 Levels | Hotel

[Mpol02]

What’s more sad is there are j real big delvopmente on the horizon.

I was told the SA economy is one of the best in Aus atm. Where’s the development to back that up? Isn’t there a housing crisis? Apartment city living would be great about now

[timtam20292]

Someone or a large group of people need to keep the pressure up in terms of delivering exquisite developments. Easier said than done of course.

[AndyWelsh]

Pop top caravan architecture. What a joke.




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[abc]

What’s more sad is there are j real big delvopmente on the horizon.

I was told the SA economy is one of the best in Aus atm. Where’s the development to back that up? Isn’t there a housing crisis? Apartment city living would be great about now

it just isn't

people on this forum misinterpret Commonwealth Bank economy reports

[Mpol02]

lol !

[[Shuz]]

Basically the economy is two-speed.

Big 4 Banks, Supermarket duopoly, resource and minerals mulitnationals in mining is going strong and baby boomers are spending like no tomorrow.

Everyone else is doing it tough. We've been in a per capita recession for three years now. The headline growth rate is only being propped up by absurd levels of immigration (cheap labour). Inflation as a total figure has tamed, but sector-by-sector inflation remains extremely volatile, with services often leading big price increases.

If it wasn't for significant spending on public sector (and associated non-market) employment, the unemployment level would be significantly higher.

[Mpol02]

Thank you for that break down this actually makes sense now.

[dbl96]

Thank you for that break down this actually makes sense now.

Still doesn’t explain the construction industry’s lack of response to demand. It is clear that at least in the residential and hotel sectors demand is outstripping supply. Yet there is little response from developers. Of course covid and related disruptions had an impact, but I would have thought by now we would be seeing things return to normal in the construction industry.

It’s not really unique to Adelaide either. Look on the Urban Developer website at the other cities. Adjusted for relative population size, there hasn’t been much going on anywhere in terms of new proposals since covid. This is borne out in the approvals figures for new dwellings, which have fallen off a cliff around Australia since covid, despite rising demand.

[ozisnowman]

Thank you for that break down this actually makes sense now.

Still doesn’t explain the construction industry’s lack of response to demand. It is clear that at least in the residential and hotel sectors demand is outstripping supply. Yet there is little response from developers. Of course covid and related disruptions had an impact, but I would have thought by now we would be seeing things return to normal in the construction industry.

It’s not really unique to Adelaide either. Look on the Urban Developer website at the other cities. Adjusted for relative population size, there hasn’t been much going on anywhere in terms of new proposals since covid. This is borne out in the approvals figures for new dwellings, which have fallen off a cliff around Australia since covid, despite rising demand.

Demand is outstripping Supply because of huge immigration levels that does not mean that those people or new home buyers are able to afford paying ridiculous mortgages with average wages that cannot cover the prices for such rents/housing given they are also paying for high food and utility prices etc.

Unless governments start spending big on housing trusts for houses/apartments in each state i cannot see developers rushing to meet demand. Because its not just PEOPLE WANT (DEMAND) but also PEOPLE CANNOT AFFORD (NO DEMAND)

This problem i cannot see being solved for any foreseeable future as it would involve many factors including
1) Reduce migration to sustainable levels - with Australia not manufacturing lots and the economy not growing how can we justify such high migration levels.
2) Spend big on infrastructure - roads/utilities/schools/hospitals for new land releases/developments
3) Build up not out - also need to have high rise apartment more scrutinized by government funded engineers to avoid poor build qualities - also get rid of these strata fee ponzi's and have it managed by government body for building maintenance
4) Remove red tape on new land releases/developments
5) Reduce building costs (how about NO GST on building materials used for new housing builds)
6) Removal of negative gearing/capital gains concessions (or at least limit the number of total properties that one can negative gear throughout their lifetimes) - none of this has a $30 million property portfolio but all bought on debt (tax payers should not be funding investment opportunity for the few that can afford investment properties)
etc.
plus more

[rhino]

1) Reduce migration to sustainable levels - with Australia not manufacturing lots and the economy not growing how can we justify such high migration levels.

Have you noticed who is working in the Aged Care sector? The Child Care Sector? The NDIS help sector? Yes, there are Aussies working in those sectors, but they are outnumbered, and often out-worked, by migrant east Asian, Indian and African workers. We are living longer and longer, and in our dotage we are going to need care. This care is not going to come from our existing population, because we are not breeding at the rate required to sustain this care, and our sons and daughters are busy living their own lives. Therefore, we need migrants. Fact of life.

Add to this the menial jobs - picking fruit, cleaning, farm labouring - that the average Aussie does not want to do, for whatever reason. The work still has to get done, so we bring people in from overseas, and often they choose to migrate - they should have that right, don't you think? After all, they are keeping our economy ticking over.

6) Removal of negative gearing/capital gains concessions (or at least limit the number of total properties that one can negative gear throughout their lifetimes) - none of this has a $30 million property portfolio but all bought on debt (tax payers should not be funding investment opportunity for the few that can afford investment properties)

I totally agree on this point. Alternatively, limit the negative gearing to your outlay on the properties, not your whole taxable income. It should have been done this way from the start.

[AndyWelsh]

Another render:



Approved plans are for a 12-storey building comprising of 129 hotel suites, a basement restaurant and retail space.


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[AndyWelsh]

Oh and this render is slightly updated from what we’ve seen before too. #PopTopCaravan




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[EBG]

This project is a total waste of space, I would rather this site remain as is until such time a a sensisbile project comes along.

[rev]

This project is a total waste of space, I would rather this site remain as is until such time a a sensisbile project comes along.

What do you base "sensible" on? Height?

I'm sure the owners/developers find this outcome sensible.
Sensible for them could be based on their circumstances or situation that we aren't privy to.
It could be based on whatever forecasts they've seen or had done that deemed this the most sensible way to proceed.

[Dvious]

Part of me is sad because this means nothing of substantial height will happen on this site for a long time should the redevelopment go ahead,but looking at a run down hoarded up building on a main thoroughfare is also a shocking look for our city.

I would rather this go ahead than nothing...