Chief Executive Officer, Glenn Palin, said John Holland was proud to have the opportunity to collaborate on the development of such a vital project for the South Australian community.
“This transformational $1b+ development will result in an exciting new sustainable living precinct,” he said.
“The development will return land to the Adelaide Botanic Gardens and provide major economic benefits to South Australia, creating up to 4500 new jobs once operational and injecting $7.5bn to the South Australian economy over the first 12 years.”
Executive General Manager, Development & Investments, Tom Roche said John Holland’s new business model has allowed it to develop its property development expertise and has enabled the vision for the precinct to come to life with key focuses on public spaces, culture and multi-generational living.
“John Holland will develop and construct this project. It is evidence of our ability to provide end-to-end solutions for our customers, and we look forward to partnering with the State Government and our partner, Commercial & General, to make it a reality,” he said.
John Holland Group will be a joint developer and investor in the project together with Commercial and General.
The joint venture’s proposal already 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, civic spaces that provide opportunities for future cultural use;
Arts, Culture and Tourism: a cultural precinct adjacent to North Terrace featuring public art and performance spaces, a European-style piazza and an international five-star hotel;
Knowledge and Innovation: a state-of-the-art knowledge and innovation 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 1000-home multi-generational living precinct with a mix of students, affordable and a high tech ageing well residency.
Construction is scheduled to commence next year and take approximately ten years to develop.