John Holland Group will be a joint developer and investor in the project together with Commercial & General.
The AU$1bn+ (£760m+) development will result in an exciting new sustainable living precinct, said John Holland chief executive officer Glenn Palin. “The development will return land to the Adelaide Botanic Gardens and provide major economic benefits to South Australia, creating up to 4,500 new jobs once operational and injecting $7.5bn to the South Australian economy over the first 12 years.”
The joint venture’s proposal has the support of the Botanic Gardens of South Australia, the University of Adelaide and UniSA, and involves four key ‘quarters’:
Garden: with more than five hectares of open space being publicly accessible, seamlessly linked and integrated with the Botanic Gardens;
Arts, culture and tourism: a cultural precinct featuring public art and performance spaces, a piazza and a five-star hotel;
Knowledge and Innovation: a campus with curated incubator spaces bringing together and co-locating universities, start-ups, businesses, professional service firms, research institutes and social organisations; and
Living: a 1,000-home multi-generational living precinct.
Construction is scheduled to commence next year and take approximately 10 years to develop.