The former Franklin Street bus station in the Adelaide CBD will be redeveloped into apartments including some affordable housing, but construction is not expected to start for at least another three years.
Key points:
- The redevelopment will see two mixed-use towers built
- Nearly 400 apartments will be built, with 35 per cent allocated to affordable housing
- The housing is not expected to be available until 2029, at the earliest
The agreement has been struck between the state government and the Adelaide City Council, which owns the land, and Renewal SA has been chosen to develop the site.
The terms of the deal are confidential, but it will see two mixed-use towers built, 18 storeys and 26 storeys high, capable of housing more than 1,000 people.
Under the plan, 35 per cent of the 392 apartments that will be built will be allocated to affordable housing.
Premier Peter Malinauskas said construction would start once the Market Square upgrade was completed, which is anticipated to finish in 2026.
“The timing of this project is being done deliberately to coincide with the Market Square development adjacent,” he said.
“We want the market to continue to function with access to car parking, which this site facilitates while the existing car park at the market is developed.”
The development includes 137 affordable studios, one and two-bedroom apartments — 51 built for sale and 86 built for rent.
The entire project is expected to be completed by 2029.
“You don’t see parcels of…
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