http://www.adelaidenow.com.au/business/ ... c470e692f4City-fringe hotel site set for seven storey apartment development that could up to decade to complete
Luke Griffiths, Business Reporter, The Advertiser
October 2, 2017 6:00pm
THE new owner of an inner-south site has promised that a planned seven-storey apartment complex won’t result in the area becoming a “ghetto just for old people”.
Not-for-profit aged care and retirement village operator ECH completed the purchase of the former Tiffins on the Park hotel complex on Friday.
This means it now owns the entire 8000sq m Greenhill Rd-facing block between George St and Anglo Avenue.
ECH’s head office and five adjacent apartments already sit on the block, but they will likely be demolished as part of a phased rejuvenation that ECH boss David Panter says could take up to a decade.
Mr Panter, who declined to reveal the purchase price other than to say it was “slightly over the odds” because of the investment’s strategic nature, said a masterplan should be completed within 12 months. Development would start almost immediately thereafter.
In the coming months, Tiffins’ 50 rooms, function centre, restaurant and swimming pool — stretching across 4160sq m — will be demolished, with documents already submitted to Unley Council.
The area will then be used a temporary carpark for ECH’s 100 head office employees until building begins.
Mr Panter, formerly a senior SA Health executive who took the job at ECH in March 2015, said it was too early to pinpoint exactly how many apartments would be built on the site, but the Council’s seven-storey limit would likely be taken advantage of.
Each (two-bedroom) apartment will be around 100sq m, well above the CBD average of around 70sq m, which very much fits into our model of independent living for the elderly,” he said.
“But we certainly don’t want to create a ghetto just for old people. There’ll be a wellness centre that will be available to members of the public.”
ECH, which plans to build 500 apartments and units in SA over the next four years, bought the former 9800sq m O-Bahn carpark neighbouring Tea Tree Plaza and Modbury Hospital for $5.3 million last year.
It was now in discussions with a Montessori pre-school provider to be part of that development — something Mr Panter said could be replicated at the Greenhill Rd site.
“Having people of all ages come together and benefit would just be a great outcome,” Mr Panter said.
Tiffins on the Park had its doors shut in mid-2015 amid a dispute between the site owner and operator. It has since sat idle. An aged wall facing George St collapsed during a storm late last year.
In February this year, Eleanor Guglielmin insisted that work to reopen the motel would start within months.
Light on specifics, she said she would be “investing heavily” in a “new experience in accommodation and hospitality” at the “iconic complex”.
Mrs Guglielmin bought the site for $5.4 million in 2006.
ECH currently owns more than 1700 accommodation options across SA, housing around 2000 people. Another 2000 people are on a waiting list, Mr Panter said.
"ghetto just for old people". I think we just hit peak Advertiser.