First homes sold in Novo West Lakes housing development, attracting first homebuyers

First homebuyers are snapping up townhouses in the high $600,000s in a “unique” new $450m neighbourhood – parts of which will now rise to five storeys.

First homebuyers have flocked to purchase townhouses in a “unique” new neighbourhood under development in West Lakes, but the developer says there is a good reason the apartment have risen from four to five storeys.

The $450m project, Novo West Lakes, will transform a 17ha former wastewater treatment site over the next five to seven years into a new residential precinct with close to 500 homes.

Potentia Environment project director Dan De Conno said the first 20 townhouses, released to market in late September, sold in “the high $600,000s”, mostly to first homebuyers.

The developer has also sold 12 of 13 allotments for larger houses to Adelaide construction companies – DeChellis, Rossdale, Format, Stirling, Weeks and Rendition – who will build display homes at the site.

Artist's impression of Novo housing development at West Lakes. Picture: Supplied by Potentia

Artist's impression of Novo housing development at West Lakes. Picture: Supplied by Potentia

Mr De Conno said the larger houses will attract young families, who are likely to patronise a 104-place Edge Childcare centre at the northern end of the site, with council reportedly assuring Potentia Environment of their support for the centre and “imminent” planning approval.

In September 2023, Potentia Environment agreed to reduce the height of apartments on Frederick Rd from five storeys to four following community feedback and a petition tabled by Charles Sturt Council.

This week, Mr De Conno said the height was back at five storeys after an affordable housing overlay was added – under SA’s planning code, buildings can go higher if they offer a certain amount of cheaper homes.

Artist's impression of Novo housing development at West Lakes. Picture: Supplied by Potentia

Artist's impression of Novo housing development at West Lakes. Picture: Supplied by Potentia

Fifteen per cent of the project’s housing now planned to be affordable, which start at $495,000.

The plans include about 350 townhouses and close to 150 apartments, while about 20 per cent of the land has been set aside as open space.

Mr De Conno said groups in the defence industry have shown strong interest in Novo West Lakes, which he expects will cater to the influx of workers needed to deliver shipbuilding projects at the nearby Osborne shipyard, in addition to AUKUS workers.

One of two heritage buildings on the site will be revamped into a new pub, and talks are in advanced stages with potential operators of a small “convenience-style” supermarket slated for the retail precinct.

“The refurbishment of the heritage buildings … make this much more unique, and we’re retaining a lot of the open-space areas where there are a lot of trees, which are five to six storeys in height,” Mr De Conno said.

“It’s going to be a really unique development once it’s built out because the trees are many years old.

“It’s taken us a bit of time to get this off the ground, but now that it is, I think it’s going to go really well.”

A new high street will weave its way through the centre of the development, with cafes, bars, medical facilities and apartments.

Planning Minister Nick Champion approved the developer’s bid to rezone the old SA Water site on the corner of Frederick Rd and Lochside Drive in January 2024.