Prospect new hi-tech GigCity hub a magnet for ‘lifestylepreneurs’

In a boon for investment, jobs and growth, Prospect this week completed its ultra-high speed, low-cost internet project to attract hi-tech businesses and entrepreneurs to its innovation precinct on Prospect Rd.

Palace Nova Cinema owner Steve Maras, Business Hub and Little City co-working studio owner George Kipriz, Luke Johnston from Innovative Growth Solutions and Prospect Mayor David O'Loughlin at the GigCity launch.

• Prospect’s GigCity delivers good prospects for business
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• GigCity plans released

Prospect Council has completed its GigCity project, which it hopes will be a boon for local investment, jobs and growth.

The project, 10 years in the making, delivers ultra-fast and low-cost internet connection to businesses in the council’s innovation precinct on Prospect Rd.

The aim is to make Prospect the destination of choice for high data demand businesses, such as healthcare, education, technology, defence and start-ups.

The GigCity network delivers 10GB internet connection to four anchor buildings in the precinct: Community Hub Library and Innovation Centre; Little City co-working studio; Business Hub serviced offices; and to the offices above Palace Nova Cinema.

The top floor of the Palace Nova Cinema on Prospect Rd will house the main server for the GigCity project. Picture: Eugene Boisvert.

Prospect Rd already boasts a 1.5 per cent vacancy rate — the lowest of all the main streets in metropolitan Adelaide.

Mayor David O’Loughlin told this week’s GigCity launch that the project would give the precinct a business and lifestyle competitive advantage.

“The successful development of this concept is the culmination of 10 years of work by council on its digital strategy and main street upgrades,” Mr O’Loughlin said.

Steve Maras, who owns Palace Nova Prospect Cinemas, said the cinemas were already using the gigabit speeds to download and transfer movies.

“We are now hoping to attract a high data-using tenant to the top floor of the building so they can take advantage of the super-fast and very low cost data,” Mr Maras said.

Prospect Rd is the home of the new Innovation Precint in Prospect. Picture: AAP/Morgan Sette.

The council plans to expand the innovation precinct, including to the ABC building in Collinswood.

For the sixth time in the past eight years, Prospect has been recognised as one of the world’s top 21 smart cities for 2019 by the New York-based Intelligent Communities Forum.