Up to 800 jobs will be created from the middle of 2016 when the next phase of apartment construction begins on the fringe of the Adelaide CBD.
Two hundred apartments will be added to the $1 billion Bowden development through a partnership between Development & Advisory and The Build Tec Group.
The largest release at Bowden to date, the 5000sqm site will accommodate four or five buildings of between four and eight storeys.
It is expected to employ up to 200 workers at the peak of construction and about a further 600 through its supply chain.
Deputy Premier John Rau said the development would be delivered in stages over three to four years.
“It’s great to have two high calibre South Australian companies working together on a project of this scale,” Mr Rau said. “This project will ensure there continues to be quality apartments in Bowden to meet demand and, like all buildings at Bowden, will use sustainable design principles while being energy and water efficient.”
The executive director of the Property Council of SA, Daniel Gannon, said that mixed-use development and density at Bowden builds the right environment for job creators and job seekers.
“Increased density and more job opportunities are a game changer for metropolitan Adelaide,” he said. “Residential offerings complemented by activated retail precincts, local job opportunities, proximity to public transport and green space are fast becoming an attractive option for South Australians.”
Development & Advisory managing director Ben Yates said the development was setting a new standard for development in Adelaide.
“Bowden is delivering a lot of value to people buying now, with key infrastructure being delivered in the next 12 months, including a new town square and a retail precinct,” he said.
The Bowden development will eventually house about 3,500 people in 2,400 homes over the next decade.