Urban Construct - developer of Newport Quays
 | Urban Constructs Newport Quays development poised for economic boomWith South Australia poised for economic boom - fuelled by major projects including the $8 billion Olympic Dam expansion and the $8 billion Air Warfare Destroyer contract – suburbs of Adelaide are emerging as key locations for investment properties. Few of these suburbs rival Port Adelaide. Just 11 km from the Adelaide CBD, Port Adelaide has become a focus for investment due largely to the $2 billion Newport Quays project, which is being developed by leading South Australian residential developer Urban Construct and international developer Brookfield Multiplex. The consortium is putting a new face on the nation’s last undeveloped inner harbour, one that has been left to the ravages of industry and time for decades. |
The Newport Quays Consortium is turning 50 hectares of degraded industrial and waterfront land into a $2 billion residential, commercial and tourism precinct in a project spanning an estimated 10-15 years.
As the State’s largest development it is delivering on many fronts for South Australia including:
- injecting approximately $2billion into the local economy over the life of the project
- creating some 4,000 jobs during construction, with an additional anticipated 2,000 permanent jobs on completion
- delivering over 3,000 new waterfront dwellings, resulting in approximately 5,000-6,000 new residents to the Port Adelaide population
- a 6km waterfront promenade with millions of dollars invested in public art and infrastructure providing access back to the Port Adelaide River for residents, the local community and visitors for the first time in decades.
The $120million first stage, known as Edgewater, was recently awarded South Australia’s best High Density development, having won the 2007 Urban Development Institute of South Australia award for excellence.
The $150million second stage, known as Marina Cove [pictured above], was released to buyers in 2006 and is almost 100% sold and, to date, the developers have received over 4,000 registrations of interest for Stage Three.
Parts of the site have required large scale landscaping and the developers Urban Construct and Brookfield Multiplex have planted more than 45,000 native trees and shrubs at the southern end of the Port River, as part of a $500,000 plan to protect the rich biodiversity within a site once degraded and polluted by decades of commercial and industrial activity.
Urban Construct and Brookfield Multiplex is also dedicating more than two acres of land along the waterfront to create parkland in honour of Kaurna elder Lartelare, who was born at the site 156 years ago.
“Newport Quays is drawing significant attention to the change underway in Port Adelaide,” said Urban Construct Managing Director James Rice.
“The trend to marinas and waterfront living across the nation has had a big impact on this project and we’re receiving a lot of buyer interest from interstate and overseas.”
“We’ve had an influx of purchasers from the United Kingdom and Western Australia. Some are just after the waterfront lifestyle while others are involved in the Air Warfare Destroyer contract being undertaken at the ASC.”
Newport Quays on completion will transform the inner harbour into one of Australia’s best waterfront destinations with a host of cosmopolitan activities and offerings from waterside taxis through to the best in boutique retail and fine dining experiences.
The residential development along the waterfront has also spurred activity across Port Adelaide’s CBD heritage precinct with smaller residential developments now underway, including the $20 million The Anchorage, located not far from the Port Centre. As is the case with Newport Quays, these developments have also been in demand from both local and interstate buyers.
The Port Adelaide CBD is also starting to see new business growth as entrepreneurs prepare for the boom inevitably driven by the $2billion Newport Quays development.
10/147 Pirie Street, Adelaide, SA |
