[U/C] 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

[Ben]

Article form February 2016 saying construction would start by the end of the year (2016). Another failed plan by Makris. Surely he is just holding onto this for the increase in land value while each year claiming a loss on the property, and "one day" will sell it. If you ever want to build up into a rage start reading from the first page of this thread back in 2005 (12 years ago) when Makris was complaining that he could not get anything approved which is why he has built nothing. 5 approved proposals later each bigger than the last and nothing. Not a single piece of dirt has been turned!! The government needs to start imposing fines on him and other developers for inaction. The site has been vacant since 1989!! coming up to 30 years. that is not good enough!! Its just as embarassing the goverment has sat on its hands and done nothing to force action.

No surprises here.

There are no signs of work starting on the $200m development planned for the former Le Cornu site in North Adelaide
8 minutes ago
Sarah Spencer
City North Messenger


“The Adelaide office of project management company RCP has been appointed to oversee the construction process, and consultants are being selected and appointed,” Mr Blunt said.

“On-site construction is planned to start by the end of the year.”

Cr Anne Moran said because no construction work had started, it pointed to another false dawn for the prime site.

"Once again it’s clearly not going to happen,” Cr Moran said.

“Substantial development means digging and laying foundation and I doubt that is going to happen in the next few months.

“I’m very sad to say I told you so.

“I urge the State Government to compulsorily acquire the land if nothing happens this time.

“It’s a prominent site holding the whole of O’Connell St to ransom.”

North Adelaide Precinct Association president David Johnson doubted any works would be started by June.

“I think Makris has got to make up his mind and if he is unable to do the development he should sell it to someone who can,” Mr Johnson said. “I think he owes it to the community.”

[rogue]

Back to the drawing board for Le Cornu site as Makris withdraws $200m project

Bension Siebert

The developer that owns Adelaide's most infamous vacant plot - the old Le Cornu site in O'Connell Street - has abandoned plans to build a $200 million complex there.

The conspicuous, main-street plot of dirt at 88 O’Connell Street has been left unoccupied, changing hands from developer to developer, for almost a quarter of a century.

Makris Group gained development approval in 2015, and a subsequent 12-month extension, on plans for a $200 million project on the site – which it boasted would feature a 16-level, golden-hued apartment tower and a six-level Sheraton hotel, plus offices, retail outlets, cafés, restaurants and an open square.

The plans included 131 residential apartments, 3000sqm of premium office space, 3000sqm of retail space, a public piazza and 441 car parks.

But InDaily can reveal the developer has binned the proposal.

Makris Group last month failed to meet the Development Assessment Commission’s extended deadline for construction to “substantially commence” by June 2017, and has returned to the drawing board.

“The [Makris] Group has withdrawn an application to extend its development approval for a previous proposal as it explores a more viable development solution for the site, which is bounded by O’Connell, Archer, Centenary and Tynte streets, North Adelaide,” a spokesperson for the developer told InDaily this morning.

“The owner of the 88 O’Connell Street site, Makris Group, is working with consultants to develop a new development plan for its prominent North Adelaide holding.”

City of Adelaide North Ward councillor Anne Moran said the developer was holding North Adelaide “to ransom” with repeated refusals to develop the site.

“It’s just an eyesore – it’s depressing,” Moran said of the site.

“Unless there’s some government intervention I don’t think we’ll see that site developed.”

The city council has attempted to purchase the site, and asked the developer to offer it for lease as a public park, to no avail.

Fellow North Ward councillor Phil Martin said 88 O’Connell Street had been “the dead heart of North Adelaide for as long as I can remember”.

“Whole generations have grown up, going to school, going to university and damn-near retired and still nothing happens.”

Makris Group boss Con Makris shifted his company’s head offices to Queensland late last year.

The Makris Group’s website still spruiks the now-abandoned project: “The development will bring a new and dynamic environment to locals and visitors alike, to work, play and recharge amongst the sophisticated surroundings of North Adelaide.”

“The development is scheduled to start construction by early 2017, to be completed in 2019.”

Planning Minister John Rau confirmed this morning that the Development Assessment Commission had granted no further extension on the June 2017 deadline, and stressed that the commission is an independent body.

InDaily contacted the Development Assessment Commission, Sheraton Hotels & Resorts, Lord Mayor Martin Haese and the Property Council for comment, but did not receive any response before deadline.

http://indaily.com.au/news/2017/07/03/b ... m-project/

[monotonehell]

quelle surprise

[crawf]

This is beyond a joke... the State Government needs to immediately step in.

Inner-city living is booming right now, yet this prime piece of real estate is still a vacant eyesore in one of Adelaide's most prestigious suburbs. Enough is enough.

[Ben]

If they've signed a contract with Sheraton though surely they are liable for some sort of compensation.

[[Shuz]]

Instead of a state bank levy. They really should introduce a vacant land tax. But that it would only apply to properties in the North Adelaide suburb larger than 2000sqm and charge say.... $100m a year?

Makris are scum. They have wasted everyone's time.

[Patrick_27]

Before we criticise Makris for the length of time this site has remained vacant, let's remember that this site has had three owners since LeCornu closed... All three owners have had their proposals rejected by the ACC. Just because Makris has now shied away from his project in recent years (consider the inflated price of now building on this site), who are we to criticise? It's his site and his money, the government have no place in this. Also consider the fact that there are plenty of other sites in the CBD that have remained empty for years...

[claybro]

"North Adelaide ward councillor Anne Moran said".....I gave up reading right about there!

[Ben]

Don't read Adelaide now comments

[mshagg]

"North Adelaide ward councillor Anne Moran said".....I gave up reading right about there!

In moran's defense (yikes, did I just say that) the ACC cops a lot of flak over this site, when it has been out of their hands for some time now.

Makris needs to shit or get off the can.

Before we criticise Makris for the length of time this site has remained vacant, let's remember that this site has had three owners since LeCornu closed... All three owners have had their proposals rejected by the ACC. Just because Makris has now shied away from his project in recent years (consider the inflated price of now building on this site), who are we to criticise? It's his site and his money, the government have no place in this. Also consider the fact that there are plenty of other sites in the CBD that have remained empty for years...

There is a question of public utility. If the conditions do not suit him then he should sell it to someone who can make a go of it. I find it hard to believe there's not a buck to be made in developing this site. Of course the government cant force him to build, but they can structure appropriate 'incentives' to prevent this ridiculous land banking from taking place.

[Mr Smith]

The visually jarring, graceless and gauche designs submitted by Makris are clearly not what the punters are prepared to pay top dollar for.

Maybe he should stick to suburban shopping centers as that seems to be where his expertise lies, clearly it is not in the development of premium apartments.

The State Govt should consider compulsory acquisition, with appropriate compensation to Makris - turn the site over to Renewal SA to develop along the lines of the stuff going up in Bowden, albeit of a slightly reduced density.

[claybro]

The State Govt should consider compulsory acquisition, with appropriate compensation to Makris - turn the site over to Renewal SA to develop along the lines of the stuff going up in Bowden, albeit of a slightly reduced density.

Oh dear, do you really think the stuff going up in Bowden is appropriate for this premium site?

[Goodsy]

The State Govt should consider compulsory acquisition, with appropriate compensation to Makris - turn the site over to Renewal SA to develop along the lines of the stuff going up in Bowden, albeit of a slightly reduced density.

Oh dear, do you really think the stuff going up in Bowden is appropriate for this premium site?

Better than nothing.

They should build a 12 story housing trust apartment block

[Mr Smith]

The State Govt should consider compulsory acquisition, with appropriate compensation to Makris - turn the site over to Renewal SA to develop along the lines of the stuff going up in Bowden, albeit of a slightly reduced density.

Oh dear, do you really think the stuff going up in Bowden is appropriate for this premium site?

Look in an ideal world, No, but having said that some of the stuff going up in Bowden looks pretty good IMO. If it was done right and at the right price point it would activate the site and erase this shocking blight on the NA streetscape.

Don't let perfection be the enemy of the good. And think about all those extra rates that the ACC could use towards further upgrading/upkeep of the parklands

[Brucetiki]

Put a massive OTR on the site