Holdfast Bay council’s $40m Jetty Rd redevelopment to go ahead despite local residents outrage

A final decision has been made on whether to proceed with Glenelg’s $40m Jetty Rd revamp – and many residents are fuming.

Proposed $40m Jetty Rd redevelopment plans are set to proceed, despite frustrated Glenelg ratepayers saying it only benefits traders – and slugs residents with too much debt.

Holdfast Bay Council won $10m in federal funds and will borrow $30m, repaid through fixed-interest loans across the next 15 years.

In a council meeting held on Tuesday night, councillors made the final decision to proceed with the redevelopment plans, as per the 2024-25 Annual Business Plan and budget.

As a result, ratepayers will be hit with a 2.3 per cent levy over a three-year period – on top of a 4.8 per cent CPI increase – leaving members of the Holdfast Bay Residents Association and 5049 Residential Group outraged.

As opposition grew against the “five-star” revamp of one of Adelaide’s most popular tourist strips, two frustrated community groups say ratepayers face generational debt to fund the project.

Association member Ken Daly said a survey of 1310 people showed 93 per cent of respondents were against the proposed debt plan to finance the project.

Jetty Rd and Glenelg beach as seen from the air. Picture: Brenton Edwards

“The debt is just too high, and the people who benefit from it are the traders – the residents really don’t get any benefit from it other than somewhere a bit better to do your shopping,” he said.

“You’re going out and borrowing all this money and asking ratepayers to pay extra when everybody’s under pressure from the cost-of-living crisis. There’s never a good time to do these sorts of projects, but especially not right now.

“If council are saying the levy will actually fund the loan, then in 2030 the peak of the debt will reach $60m – we haven’t fabricated those figures, we haven’t made them up.

“Ratepayers don’t want that size of debt and they certainly don’t want to pay it.”

In March, Holdfast Bay Mayor Amanda Wilson unveiled the $40m project to revamp the 1km stretch of Jetty Rd to improve carparking, public transport and shopping, dining and entertainment sectors.

Artist impressions of Jetty Road at Glenelg. Picture: Supplied

Artist impressions of Jetty Road at Glenelg. Picture: Supplied

Last month, Ms Wilson defended the rate rise, saying the $40m project wasn’t “just an investment into Glenelg”, and that it would become a “modern, five-star, vibrant, safe and accessible world-class destination”.

On Tuesday, the council conceded the project required “a significant contribution from ratepayers”.

“Elected members have been listening carefully to and considering the wide-ranging community feedback received,” a spokesperson said.

“Council offers all residents the opportunity to undertake various payment options for their council rates including rates payment plans or they can apply for rate capping or financial hardship support.”

Originally published as Holdfast Bay council’s $40m Jetty Rd redevelopment to go ahead despite local residents outrage