Sensational-Adelaide.com

serca wrote:It's not that I have done a stock take and estimate on the building, but if I was to have a punt 40 million seems just a little shy of what a building like that would cost to build. I can appreciate the works required for the footbridge but it seems odd that it would have the same price tag as structure like this.

None the less looks awesome but will only take it serious being another 100m+ when They start piling

stevedude95 wrote:So the 'Eco' Hotel and Vue on King William were approved, how/when will we find out if this was also approved?

Norman wrote:

stevedude95 wrote:So the 'Eco' Hotel and Vue on King William were approved, how/when will we find out if this was also approved?

The decision was deferred until the next meeting.

Waewick wrote:

serca wrote:It's not that I have done a stock take and estimate on the building, but if I was to have a punt 40 million seems just a little shy of what a building like that would cost to build. I can appreciate the works required for the footbridge but it seems odd that it would have the same price tag as structure like this.

None the less looks awesome but will only take it serious being another 100m+ when They start piling

It could cost the same given how different the two projects are.

It is like saying a pool that costs 35k to install doesn't seem right because you can buy a car for that money.

serca wrote:

Waewick wrote:

serca wrote:It's not that I have done a stock take and estimate on the building, but if I was to have a punt 40 million seems just a little shy of what a building like that would cost to build. I can appreciate the works required for the footbridge but it seems odd that it would have the same price tag as structure like this.

None the less looks awesome but will only take it serious being another 100m+ when They start piling

It could cost the same given how different the two projects are.

It is like saying a pool that costs 35k to install doesn't seem right because you can buy a car for that money.

Yeah I can appreciate they are different but 40M seems off the mark for a building that size / Design

Plans for Adelaide’s second tallest tower approved

by: Tim Williams CITY EDITOR •

From: City Messenger •

February 21, 2014

THE developer seeking to build the city’s second tallest tower says his vision is realistic but he isn’t putting a time frame on the project.

After deferring a decision in January, the Development Assessment Commission last week approved the Palumbo Building plan for a 32-storey, 110m-tall mixed-use tower on Currie St.

Designed by Pruszinski Architects, the tower would house more than 250 hotel suites and 80 apartments.

Similar-scaled proposals have failed to get off the ground but Palumbo Building director Daniel Palumbo is confident his will become a reality.

“It’s only ambitious in the sense there’s only one 30-storey building in Adelaide (the 132m-Westpac House), but not when you look at other cities,” he said.

Mr Palumbo said he was negotiating with a shortlist of “top 10 international hotel” chains after an expression of interest process.

The financing model for the building was yet to be ­finalised, he said.

“However long it takes to get the right deal over the line, that’s how long it will take,” he said.

“(Planning approval) is one link in the chain. There’s still a lot of work to do.”

The proposed tower would front Currie, Rosina, Solomon and Burnett streets.

Bars, shops and a mezzanine gallery space would occupy the ground level, while a seventh-floor “resort level” would have a terrace, pool, spa, and breakfast area.

The construction cost would be close to $40 million but Palumbo Building is yet to reveal a development value for the project.

The company is soon to complete a 48-apartment project at Mawson Lakes.

rev wrote:The developer was pretty adamant that this 100m+ proposal would get built, unlike so many others in Adelaide.
Now that it's approved, lets wait and see.

...The financing model for the building was yet to be ­finalised, he said...

Pruszinski Architects has also designed Adelaide’s second-tallest building proposal, Palumbo on 106 Currie Street, a $70 million, 29 level residential/hotel development, which received approval in February.

Daniel Palumbo said he was still negotiating with a shortlist of hotel chains and was yet to lock in a financier.

“We’re currently short-listing the hotels and working our way through that process. I’m hopeful we will be making an announcement in the next few months. We’re dealing with different financiers as well,” he said.