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

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Smithy84
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[APP] Re: 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

#1141 Post by Smithy84 » Wed Oct 06, 2021 11:44 am

Apartment sales have hit 20% ahead of the official launch tomorrow night, according to the Tiser.

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PeFe
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[APP] Re: 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

#1142 Post by PeFe » Wed Oct 06, 2021 2:34 pm

The In Daily article
'Strong sales' for redeveloped Le Cornu site ahead of construction

The developer tasked with transforming North Adelaide’s notoriously vacant old Le Cornu site says he has already sold 20 per cent of the value of the $250 million project, with the majority of interest coming from local residents.

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Commercial & General has released new renders of its Eighty Eight O'Connell project.

Commercial & General executive chair Jamie McClurg said he has received “strong sales” for the planned three-tower residential, retail and commercial development at 88 O’Connell Street in North Adelaide ahead of the opening of a display suite this weekend.

The Adelaide-based developer said 1600 people have already registered interest in the project – called Eighty Eight O’Connell – with the majority of interest coming from current North Adelaide residents.

So far, 20 per cent of the value of the project has sold ahead of construction starting in the first half of next year.

The development, designed by architect Woods Bagot, includes two 13-storey towers and one 15-storey tower accommodating retail and commercial space, as well as 160 residential apartments.

It would also include almost 400 off-street car parks over three basement levels and some public space.

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Once complete, the development will end 30 years of vacancy at the 7500 square-metre site, following several failed development attempts.

“There’s a sense of excitement because people can now see that, after more than 30 years as a vacant block that has made no contribution to the vibrancy of the community, something is happening that will transform this site and North Adelaide as a whole,” McClurg said.

“To say we have been pleased with the level of enquiry would be an understatement.”

The project is being built on land purchased by the Adelaide City Council for $34 million in December 2017 with the help of a $10 million State Government grant.

At the time, the council paid up to $14 million more than what independent valuers thought the site was worth in order to compete with a mystery prospective buyer.

In December, the council confirmed it had selected Commercial & General as its development partner, with the state’s planning body approving plans in June.

Lord Mayor Sandy Verschoor said the project would be a “catalyst” for North Adelaide.

“This street and this community have been waiting a long time and it’s just fantastic to see the vision becoming a reality,” she said.

But some North Adelaide residents last month launched legal action in an attempt stop the redevelopment from taking place, arguing the towers exceed the hight and scale limits for the neighbourhood, as well as the council’s own guiding principles for the project.

https://indaily.com.au/news/2021/10/06/ ... struction/

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[Shuz]
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[APP] Re: 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

#1143 Post by [Shuz] » Wed Oct 06, 2021 3:38 pm

The fact that most of the people interested in purchasing an apartment in this development are already from North Adelaide, just goes to show that progress has been hindered all these years by a very vocal minority and in the silent majority were in favour of this development.

Those who objected should hang their heads in shame. They should be made to pay for 30 years of inaction. Thank God common sense prevailed.
Any views and opinions expressed are of my own, and do not reflect the views or opinions of any organisation of which I have an affiliation with.

rev
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[APP] Re: 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

#1144 Post by rev » Wed Oct 06, 2021 5:07 pm

[Shuz] wrote:
Wed Oct 06, 2021 3:38 pm
The fact that most of the people interested in purchasing an apartment in this development are already from North Adelaide, just goes to show that progress has been hindered all these years by a very vocal minority and in the silent majority were in favour of this development.

Those who objected should hang their heads in shame. They should be made to pay for 30 years of inaction. Thank God common sense prevailed.
I think them having to see this development go ahead is punishment enough, but just to be sure more development should happen.

Theyre not the main problem, politicians are. They pander and cave to them from infrastructure projects to developments like this site.

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Spotto
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[APP] Re: 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

#1145 Post by Spotto » Wed Oct 06, 2021 6:39 pm

rev wrote:
Wed Oct 06, 2021 5:07 pm
Theyre not the main problem, politicians are. They pander and cave to them from infrastructure projects to developments like this site.
*cough, cough* cancelling Hove Crossing to pander to a few grumpy residents and screwing over thousands of commuters and road users *cough, cough*

how good is he
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[APP] Re: 88 O'Connell Street | 63m | 13, 13 and 15 Levels | Mixed Use

#1146 Post by how good is he » Sun Oct 10, 2021 12:13 pm

The real issue was the preferred outcome was a train underpass which was costed at a massive $450m [vs an overpass at $290m]. The original budget was $171m [ie. So a $120m blow out if an overpass and a $280m blowout if an underpass] which the Federal Govt wasn't willing to contribute to, therefore the State Govt wasn't able/willing to fund it alone.
The Libs also blamed the previous Labor Govt for under costing the original budget work and also only doing 5% of the planning work blah blah blah...
ps. Mods feel free to move these comments to Hove Crossing/the correct topic.

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