SA’s Built Environ’s to build $300 million West Franklin development
CONSTRUCTION will begin next month on the first stage of one of the largest urban regeneration projects undertaken in the Adelaide CBD.
CONSTRUCTION will begin next month on the first stage of one of the largest urban regeneration projects undertaken in the Adelaide CBD.
South Australia’s Built Environs was yesterday named as the builder to construct the $300 million West Franklin project on the former home of iconic bakery Balfours, near the western end of the city.
Stage one will boast north and south towers with a six-storey podium supporting the towers on the corner of Franklin St and Elizabeth St. The towers will comprise 272 apartments with stage two adding a further 298 apartments and two more towers.
Nicho Teng, managing director of project developer Greaton, is currently overseeing around $1.3 billion of projects across Australia.
He said appointing a builder for the $90 million construction was a major milestone.
“Greaton purchased the (5000 sq m) site from Adelaide City Council in 2014 and knew it had the potential to dramatically change Adelaide’s city west,” he said.
“Built Environs is committed to safety, innovation and best practice building principles. They will also be using innovative construction methodology, bubble deck, which will result in a shorter construction phase.
“This area of the city has been dormant for many years. The commencement of construction in this area will not only activate West Franklin, but the entire precinct.”
Up to 250 full time jobs will be created during the peak construction periods.
“Securing the West Franklin project is an important achievement for our business,” Built Environs’ managing director Daryl Young said.
He said the masterplanned development will create an entirely new destination at the western end of the CBD. The 1320 sq m ground floor will include a supermarket, cafes and retail shopping. Stage one will have parking for 236 cars plus a rooftop bar, golf simulator, swimming pool, gym and steam room.
Sales of the stage one apartments, which began in November, are going well, Greaton’s national sales manager Cameron Porter said: 150 of the 270 apartments, which range form $319,000 to penthouses for $1.445 million, are already sold.
Construction is expected to take around two years.