The award-winning developer of Lightsview has won State Government approval to build an 11-hectare residential and mixed-use development at the Tonsley precinct.
The Peet Group, which includes CIC Australia, proposed a medium-to-high-density development delivering more than 850 homes and accommodating about 1200 residents.
Under the proposal, the State Government will retain ownership of the land while the Peet Group will build the houses and other urban infrastructure — a model which has proven successful in other developments such as Lightsview.
The development is expected to support an estimated 780 construction jobs over nine years and generate an estimated $265 million in housing investment.
CIC Australia, which became a wholly-owned subsidiary of the national developer, Peet Limited in 2015, was selected as the preferred proponent from four bidders identified through an Expression of Interest process advertised nationally.
Its draft masterplan identifies a broad mix of housing types including more than 500 terrace homes, and 17 mixed-use and apartment building sites with at least 230 apartments and 1500sqm of commercial floor space.
The development will be integrated with the existing and proposed Tonsley road network and will include a central reserve as well as a linear park for pedestrians and cyclists along the rail line.
There will be a minimum of 15 per cent affordable housing, and the development will have high sustainability standards as part of Tonsley’s Six-Star Green Star Community certification.
This residential development is a critical element of the Tonsley project, which will help to further activate the precinct and will add to the vibrancy of the area.
It also provides new housing close to other key sites such as the Flinders Medical Centre and Flinders University’s Bedford Park campus, to be linked by the Government’s $85.5 million Flinderslink rail extension.
This is yet another example of the Government building South Australia by encouraging private investment in construction, which will not only help to strengthen our economy but also lead to high quality, affordable housing.
The precinct will reflect the Government’s vision of creating safe and healthy communities which encourage walking and cycling, while also providing easy access to public transport including the electrified Tonsley rail line and 600m Flinderslink extension.
This is another exciting new stage of the Tonsley redevelopment, providing affordable housing for the people of Elder and anyone wanting to move into our wonderful southern suburbs.
Tonsley is already a world leader in green design and building practices and it is exciting to see that these credentials will be extended to this new residential and mixed-use development.
The Peet Group, which is already delivering Adelaide’s newest suburb of Lightsview in a joint venture with Renewal SA, is very pleased to be extending our relationship with the South Australian Government with a new partnership opportunity at Tonsley.
It expands our presence in Adelaide, and underlines Peet’s commitment to South Australia and our confidence in the transformation of the Tonsley precinct into a thriving, sustainable community and destination.
We look forward taking a holistic approach to development, building on a history of innovation in residential development and, in particular, evolving the innovative built form that is now a feature of Lightsview.