News & Developments: Bowden TOD

[Nort]

what is the point of commencing building if no one is going to move in?

must the State Government also give them a rental return on the empy buildings?

That would presumably be covered in the bidding process, if a developer doesn't think it is worth immediately building on a block they wouldn't have to buy it.

[Wayno]

A friend of mine is now formally engaged as a developer for Bowden Village - I shall refer to him as Mr X because he used to be a dentist, and they have a thing about privacy.

Mr X said the first period of development will be 3 storey townhouses and apartments with shops on the ground floor. Nothing taller. This first phase will be for a small parcel of land north of the train line.

To purchase land Mr X must first submit an 'advanced' building design (not on the back of a napkin) which will be critiqued by a panel of 3 architects (respected individuals, not firms) 2 of which are from Adelaide, and one from Sydney. If Mr X's proposed design fails, then he can't purchase the land. Simple as that. If approved, Mr X is locked into building at least to the agreed design and scale.

Much of the land south of the train line (bordering port rd) is still in private hands (e.g. raptis fish market) and the purchase/JV arrangements are far from finalised. We should perhaps not expect anything of substantial height for a few years. The whole village is expected to take a decade to complete.

If you have questions i can run them by Mr X.

[Ben]

Does Mr X need an assistant? lol

[Wayno]

First land releases occurring in March & mid-2012: http://www.lifemoreinteresting.com.au/l ... erplan.pdf

Details of stage 1: http://www.lifemoreinteresting.com.au/l ... elease.pdf

Urban Design Guide: http://www.lifemoreinteresting.com.au/l ... elines.pdf

Green Star facts: http://www.lifemoreinteresting.com.au/l ... _Sheet.pdf

[Anon]

Hi guys.. I was actually thinking of buying my first place in Bowden or Brompton. Do you think the redevelopment would have a positive or negative effect on house prices in the area?

[Nathan]

House prices have definitely been rising in Brompton.

[Anon]

House prices have definitely been rising in Brompton.

Yeah I've been looking at the area for quite a while. Prices were crazy about 6 months back and not selling and I've seen about a 10-15% drop over the last 6 months on a lot of the new places. A lot of the new townhouses have been quite poorly constructed and I know a few of the developers in the area are now bankrupt. Prices seems more stable now though. Place I'm looking at has almost has gone from $650k to $550k in about 5 months.

[Vee]

Hi guys.. I was actually thinking of buying my first place in Bowden or Brompton. Do you think the redevelopment would have a positive or negative effect on house prices in the area?

I think that the Bowden, Brompton and Croydon areas are superbly located close to the city, park lands and improving public transport. The new Village promises to be an interesting mix with green credentials and property prices in adjacent suburbs should benefit from the upgrade.

The Queen St. Croydon shopping precinct with its quirky shops and cafés is an example of the appeal and renewal evident in this area. This area is well placed for cycling and walking to the city and access to the park lands and new hospital.

Port Road is already being rejuvenated with new and refurbished businesses and the area has some very interesting and charming old buildings that have been re-purposed or are ripe for restoration.

House prices have fallen in the past year or remained soft almost everywhere in Adelaide, as with other capital cities. It's hard (even for so called experts) to predict the bottom of the market, especially with the global financial instability, but it's better to be buying your first home now rather than when they were overpriced.

Bowden Brompton has come a long way since the 60s and 70s when it was a classic textbook example of an old inner area of urban blight with mixed industry, dilapidated housing etc. The turnaround is evident. Looks like a savvy choice.
Good luck.

[eslampar]

Hi guys.. I was actually thinking of buying my first place in Bowden or Brompton. Do you think the redevelopment would have a positive or negative effect on house prices in the area?

I cant see why not given the proximity to the CBD and the development. If you are planning on living in this property however, I would suggest you look in West Croydon, it is and will be much quieter and is walking distance to the new TOD

[Wayno]

Consider dropping by on March 17. I received this as i'm subscribed as a potential buyer, but i doubt they'll turn anyone away on the day...

bowden.jpg (228.14 KiB) Viewed 4378 times

[Will]

From the Messenger:

Bowden Village land to be released

Government19 Mar 12 @ 11:49am



DEVELOPMENT: An artist's impression of Bowden Village.


DEVELOPERS will have first dibs on lots at the Bowden Village housing development when the first land is released for sale next week.

The land will be officially released to developers and builders only on Monday, March 26, with the first apartments and townhouses expected to be released to the general public later this year.

Before the land release, residents and interested parties are invited to attend the opening of the Bowden Information and Sales Centre on Saturday, March 24, from 10am to 4pm, for a chance to see plans for the development.

Free food, drink and entertainment will be provided and will include children’s entertainment, roving performers and a variety of market stalls.

A turnout between 1000 and 2000 people is expected over the course of the day.

The Information and Sales Centre is located in the former Park View Hotel on Park Tce, Bowden.

[Wayno]

DEVELOPERS will have first dibs on lots at the Bowden Village housing development when the first land is released for sale next week.

A friend of mine is one of the short-listed developers. It appears the SA Govt will not ask them to pre-purchase land. Instead they will simply be allocated lots upon which they build. The govt & developers share the profits when the townhouses sell (based on an agreed formula).

[jk1237]

hey Wayno, did you end up going to the sales centre launch? Was wanting to go but had to work

[Wayno]

hey Wayno, did you end up going to the sales centre launch? Was wanting to go but had to work

hi mate, nope i didn't get there on Saturday, but just now received another email for the 'grand opening' on March 24 (10am-4pm with street artists, performing arts, live music, food & markets). i'll take my camera.

[Nathan]

Weird, I'm sure I was on the mailing list too, but haven't received anything. Hmm...