Adelaide’s skyline is set to get a little higher with the announcement of a 38-storey high-rise tower to be built in Festival Plaza.
The development by Walker Corporation will see the company's original plan to construct a three-storey retail building on the plaza scrapped and replaced by the mixed-use tower.
The high-rise will stand alongside the existing 29-storey One Festival Tower and feature a grand glass foyer offering continuous sight lines between Parliament House and Festival Plaza and improved public spaces.
The development is expected to draw a further 9500 workers to the revitalised Riverbank Precinct, bringing an estimated $1.3 billion in economic activity to the area annually. A further 1300 construction and associated jobs will be created over the course of the build.
Other key highlights of the proposal include:
- 36 floors of commercial office space
- option for 3000sq m of public civic space across four podium levels, which could be utilised for Parliamentary events, school tours, art exhibitions or cultural events and performances
- two floors of food and beverage space with direct access from Festival Plaza
- terrace-level dining overlooking the plaza and broader Riverbank Precinct
- 800sq m of additional public space adjacent to Parliament House which will support outdoor dining and activations.
Walker Corporation will now seek planning approval, precommitment for the building’s commercial floors and tender for a builder to construct the building.
This follows Cabinet approving an agreement to pursue the development.
Subject to planning approvals and final tenancy agreements, the project is expected to start in 2025 with the tower to be complete as early as mid-2027 ready for tenants to move in.
Walker Corporation Managing Director and Chief Executive Officer Quotes David Gallant said the new tower would build on the success of One Festival Tower.
“Our architects have spent many months finetuning the design to create an additional 800sq m of public plaza, which will allow sunlight to flow through and open sight lines onto Parliament House,” Mr Gallant said.
“This ultimate balance between a modern, slender tower that is also sympathetic to the heritage of Parliament House was Lang Walker’s final vision for this great square.
“It reinforces Lang’s ultimate goal that Festival Plaza becomes one of the world’s most celebrated squares, ensuring it’s successfully activated seven days a week, all year round, with the added economic benefit of generating over a billion dollars in extra economic activity per year.”
