New tower to transform Festival Plaza
Date Published: 9th Apr 2024
A sleek, modern 38-storey high-rise tower is set to be built in Festival Plaza, with significant additional public space - bringing in thousands of visitors and workers and more than $1 billion in annual economic activity.
The new development by Walker Corporation will see Walker’s original proposal to construct a three-storey retail building on the Plaza scrapped and replaced with a high-rise mixed-use tower packed with public amenities.
The proposal delivers an improved heritage outcome, with a grand glass foyer offering continuous sight lines between Parliament House and Festival Plaza, and improved public spaces. The previously approved three-storey option would have obscured views of Parliament’s heritage façade and balcony entirely.
Importantly, the development is expected to draw a further 9,500 workers to the revitalised Riverbank Precinct – bringing with it $1.3 billion in economic activity to the area annually.
Planning approval will now be sought for the tower, which would stand alongside the existing 29-storey One Festival Tower.
Key highlights of the proposal include:
- 36 floors of commercial office space
- Option for 3,000sqm of public civic space across four podium levels, which could be utilised for Parliamentary events, school tours, art exhibitions or cultural events and performances
- A grand glass foyer offering continuous sight lines between Parliament House and Festival Plaza
- Two floors of high quality food and beverage space with direct access from Festival Plaza
- Terrace-level dining overlooking the plaza and broader Riverbank Precinct
- 800sqm of additional public realm adjacent to Parliament House
- Options for new public artworks to create further visual interest within the additional public space.
Cabinet has approved an agreement to pursue the development, which is expected to draw a further 9,500 workers to the revitalised Riverbank Precinct – bringing with it $1.3 billion in economic activity to the area annually.
A further 1,300 construction and associated jobs will be created over the course of the build.
Walker Corporation will now seek planning approval, precommitment for the building’s commercial floors and tender for a builder to construct the building.
The additional public realm between the new tower and Walker Corporation’s recently completed One Festival Tower will be anchored by eye-catching public art, and open up view lines to and from Parliament House, creating a heightened physical connection to the State Heritage-listed building.
The new communal space will also complement the broader plaza experience. Its design will support a diverse range of outdoor dining and activations, fostering a welcoming environment that encourages people to gather, linger, and enjoy the space, thereby enriching the visitor experience.
A code amendment restricted to Festival Plaza’s footprint will be initiated and tasked with consideration of aspects such as building height, design, heritage and interface with the Riverbank Precinct’s existing infrastructure.
Subject to planning approvals and final tenancy agreements, project construction is estimated to start in 2025 with the tower to be complete as early as mid-2027 ready for tenants to move in.
Quotes attributable to Premier Peter Malinauskas
Our state is growing up.
This is a meaningful demonstration of private capital investment showing confidence in the future of our state.
This new tower speaks to the growing confidence in South Australia, which now has the lowest unemployment rate in the country and the nation’s strongest economy.
Importantly, this proposal delivers more public space in Festival Plaza and a better heritage outcome for Parliament House.
Quotes attributable to Minister Nick Champion
The creation of a second tower on Festival Plaza will further rejuvenate an underutilised area in the Riverbank precinct.
The community space will add much needed retail, food and beverage options in an area that will be bustling with close to 10,000 daily workers.
This project will activate a strategic area of the city while creating more than a thousand jobs during construction.
The new tower will be an important feature in the ongoing transformation of Festival Plaza, which also includes upgrades to the neighbouring Railway Station, Festival Theatre, SkyCity and Elder Park.
Quotes attributable to David Gallant, Walker Corporation Managing Director and Chief Executive Officer
This new tower, will continue to build on the success of One Festival Tower, transforming the Adelaide city skyline with its iconic glass-curved façade, wrapped around Adelaide’s 6-star energy efficient premium commercial offices with vibrant and diverse hospitality offerings spilling onto the plaza.
Our architects have spent many months finetuning the design to create an additional 800m2 of public plaza, which will allow sunlight to flow through and open sight lines onto Parliament House.
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. This will lead to a terrific outcome for Adelaide with the creation of over 9,500 jobs for local workers. It reinforces Lang’s ultimate goal that Festival Plaza becomes one of the world’s most celebrated squares, ensuring it’s successfully activated 7 days a week, all year round, with the added economic benefit of generating over a billion dollars in extra economic activity per year.