Taller towers slated for inner city site as PM lands in Adelaide
The state government has signed off on tripling the height of an apartment tower outside the CBD, as the PM makes a doorstop where hundreds of residents are moving in.
A developer in Southwark – formerly the West End Brewery – will more than double its apartment heights, allowed by a new planning code the state government announced on Monday morning.
It comes as Prime Minister Anthony Albanese returned to the $80 million Prospect Corner development, which he visited almost a year ago during the federal election campaign.
Developers at Southwark – formerly the West End Brewery – can now build to 14 levels, up from eight, SA’s Planning Minister Nick Champion announced on Monday morning.
Samaras development in Southwark would be the first to almost triple its height, with new plans to build 11 storeys rather than the originally planned four.
The change would mean the Samaras tower would host 125 apartments rather than 50.
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Tweaked builds come from a planning code amendment introduced in late January that allowed developers to build taller towers with other planning checks.
“We are in a national housing crisis. South Australians deserve a government that will come up with bold, ambitious solutions to increase housing supply,” Champion said.
Housing supply was the message of the day as the Prime Minister joined Premier Peter Malinauskas on a site tour to mark two completed Prospect apartment buildings, including 100 new homes.
The two leaders were flanked by SA Planning Minister Nick Champion, federal Adelaide MP Steve Geeorganas and federal Boothby MP Louise Miller-Frost to mark the milestone.
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The Prospect Corner development was one of the first in the country to be funded by the Albanese government’s $47 billion Housing Australia Future Fund.
Now residents were expected to start moving into the completed eight-storey Prospect tower with 71 apartments next week.
Today the Prime Minister was quizzed on changes to negative gearing and capital gains tax announced in last week’s Federal Budget that some claimed would reduce housing supply by about 35,000 homes over the next decade.
The Housing Industry Association claimed the tax changes would disincentivise investors to target the housing market.
Asked if he had got it wrong, Albanese said: “what we’re doing here is getting it right for 75,000 young people to get into their own home”.
“Now the three right-wing parties and their allies continue to oppose these measures, but they’re important,” he said.
“A $47 billion Home for Australia plan is important for the nation, and I’m in politics to make a positive difference to people’s lives.”
Albanese dismissed the idea that the capital gains tax changes would penalise young people looking to the share market to save their home deposits.
“What they will do when it comes to capital gains tax is to return to the pre-1999 position, which is to be taxed on real gains,” he said.
“That is better aligning income from work with income from assets, that’s called tax reform, and it’s something that’s needed in this country.”
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