Adelaide s tallest residential tower rises

Adelaide’s tallest residential tower risesSoaring to 30 storeys and 103 metres, the $100 million Kodo apartment project in Adelaide’s CBD will be the state’s tallest residential development upon completion.South Australian Deputy Premier John Rau officially broke ground on the Angas Street development last week.Rau says “construction on this scale represents a vote of confidence in Adelaide and South Australia”.Developed by Flagship Property Holdings, Kodo has been designed by Woods Bagot and is being constructed by Watpac, which cleared the site earlier this month.Steve Wise, Flagship’s chief executive officer, hopes Kodo will become an “iconic feature on the Adelaide skyline” and will be ready for people to move in by the end of next year.Wise says the project is “a real vote of confidence in the broader Adelaide economy, including an estimated 2 local jobs during the construction period”.Located near Victoria Square, the 208-dwelling development will include a four-level podium from ground level, incorporating car parking, bicycle parks and residential apartments.On the top floor of the podium, an exclusive resident ‘sky garden’ will feature landscaped entertaining and recreation areas, as well as surrounding apartments with mezzanine floors and generous private terraces. One, two and three bedroom apartments will extend another 26 levels with sweeping views of the Adelaide Hills and coastline.To mark the formal ground-breaking event, Wise announced a special ‘head start’ package for first home buyers. All eligible first home owners who purchase before 30 June will receive a $7,0 developer grant on settlement, in addition to the state government’s existing $15,000 first home owner grant, and the off-the-plan stamp duty concession of $15,0.This amounts to up to $38,000, which Wise says represents a “real head start” for first home buyers.