Sensational-Adelaide.com

Type: Development Application Received
Application Number: DA/961/2008
Lodgement Date: 26/11/2008
Location: 273-287 Grote Street, ADELAIDE SA 5000
Description: Demolish existing buildings and construct 3 eight storey student accommodation buildings with commercial on ground floor.

AtD wrote:Ben: Is it possible this is the Australia Post building too? Is the entire complex moving into the City Central district?

AtD wrote:For a moment I hoped this would cover up the Australia Post sorting centre from the airport view. But no, it won't. But still, hopefully it'll break up the concrete wall that faces the west.

Ben: Is it possible this is the Australia Post building too? Is the entire complex moving into the City Central district?

Pupil influx sparks Adelaide boom

by Adam Todd

THE falling Australian dollar will mean big bucks for the city, with the international student population expected to boom next year.

Overseas student enrolments at the University of Adelaide for 2009 are already up 20 per cent on last year.

With the Australian dollar slumping from near parity mid-year to hover around 60 cents today, overseas students stand to save at least 30 per cent on fees.

International student numbers have already more than doubled from 11,000 in 2002 to 26,000 this year and international education is now worth more than $740 million to the state’s economy.

The influx is also sparking a multi-million dollar student accommodation boom in the city.

The latest is a proposed $50 million development on the Freedom Furniture site, on Grote St, comprising three eight-storey buildings to house a further 200-300 students. University of Adelaide strategy and planning director Gary Martin said the plummeting Australian dollar was serving as a lure for overseas students.

“Obviously that makes us more attractive and the early indications are, compared with the same point last year, we’re around 20 per cent up,” he said.

He said the University of Adelaide had about 5000 international students this year, comprising 25 per cent of the overall student population.

“Studies show the economic impact is enormous, it’s not only the money they spend on fees, they are paying to live here,” he said.

“That is why the State Government is so keen to build this, the economic benefits to the city are enormous.”

Mr Martin said despite an increase in student accommodation in the city in recent years, the market was still failing to meet the surging demand.

“I think it’s always going to be chasing, so it’s always going to be tough, it’s one of those things where the demand follows the supply, rather than the other way around.”

The Freedom Furniture site development was lodged with the City Council last week.

The proposal is expected to go before the council’s Development Assessment Panel for comment early in the new year.
Other recently approved projects include a $12 million development on Pulteney St, which will house 198 students.

Meantime, the $75 million Spark Apartments on Hindley St, which will house 430 students, is set to be finished early next year.

Property Council of Australia state director Nathan Paine said student accommodation remained a growth market in the CBD.

“(The Freedom Furniture site development) is a good outcome, it will bring more students to the city and it will bring economic growth,” he said.

skyliner wrote:V. exciting! So just how close is this development to West Tce. I'm having difficulties imagining the precise location - not that familiar with this part of the city.[/color][/b]