Construction on the new $100 million VUE on King William apartments, will officially commence with a ground breaking ceremony today.
Once completed, VUE on King William will be Adelaide’s tallest residential building, standing at 28 storeys (85 metres).
The project, a joint venture between Adelaide based Starfish Developments and Melbourne based Asian Pacific Group, will take around 18 months to complete and create around 200 jobs during construction.
Premier Jay Weatherill said the project demonstrates confidence in private development in the city and follows the Government’s city planning reforms and infrastructure big build.
“Projects like VUE on King William are what our Vibrant City agenda is about; making Adelaide a place where business wants to invest,” Mr Weatherill said.
“Projects like the Adelaide Oval, Royal Adelaide Hospital and Convention Centre have changed the city skyline and have made the CBD a more attractive place to live and work.
“These investments, along with major city planning reforms which commenced in 2012, are all about unlocking new development, creating new jobs and putting more privately funded cranes in the sky.
“Our planning reforms for the City have already been instrumental in unlocking 73 potential development projects to the value of $3.1 billion.”
Located on the corner of King William and Holland Streets, VUE received development approval in November 2013. Eighty-two per cent of the $100 million development has sold since being taken to the market in May this year.
The building will feature 205 apartments and has been designed by leading architects Woods Bagot, led by Principal Gavin Kain, alongside Design Architect Enzo Caroscio and a South Australian team.
Mr Weatherill said that the Government is committed to removing barriers, accelerating approval processes and instilling confidence in the market.
“Our case management approach ensures that developers have a clear process with minimal red-tape, whilst respecting important factors such as design principles and the local environment,” Mr Weatherill said.
“Our recent announcement that the Coordinator General will assist private sector projects to clear hurdles is also an important way to build private sector confidence, stimulate investment and create jobs.”
Source: News Release Premier Jay Weatherill, 02 September 2014