Adelaide is set to reach new heights with plans for the City’s first skyscraper given the green light by the State Commission Assessment Panel (SCAP).
The 160 metre, 38-storey Festival Plaza Tower 2 will be the tallest commercial building in Adelaide once completed.
The approval follows a rigorous assessment process, with the development carefully considered against updated planning policies and community feedback.
The SCAP have approved the plans for Festival Plaza Tower 2 which will allow the project to proceed with minor amendments to certain elements of the design.
The new tower will complement the existing 29-level Festival Tower, further activating the Riverbank Precinct as a hub for business, culture and community.
Tower 2 will be the most sustainable office building in Australia and will become the first 6-star NABERS energy building in Adelaide.
It will become the largest all-electric commercial building in Adelaide, with the largest solar array of any commercial building in the city and will be carbon neutral by 2028.
South Australian Premier Peter Malinauskas said the development will transform Adelaide.
“The tower will generate an estimated billion dollars in annual economic activity and ensure a large number of people are constantly populating Festival Plaza, ensuring it is a truly active and vibrant location.
“I look forward to seeing this building rise above the plaza.”
When finished, the site will be home to up to 5,000 office workers and support a further 100 retail positions across its lower-level restaurants, cafes and bars, driving more than $1 billion in yearly economic activity.
Over 1,300 jobs will be generated during the execution of the project, including roles in construction, engineering and project management.
Walker Managing Director and CEO David Gallant said, “We appreciate the trust South Australians have placed in us to deliver a development of the highest quality and long-term civic value. We’re committed to delivering a second tower that builds on the success of Festival Tower.”