ONE-FIFTH of the $100 million Victoria Square redevelopment could be completed by mid-2014 - more than four years after Town Hall unveiled its bold vision to overhaul the city’s heart.
Town Hall has allocated $20 million to the project in its 2012/13 draft budget.
This is despite repeatedly failing to attract State or Federal funding to complete the long-awaited facelift.
But the $20 million earmarked for the revamp - $11.5 million in 2012/13 and $8.5 million in 2013/14 - would only cover the cost of a pathway, paved areas for pedestrians and outdoor dining, a lawn space for events and upgraded bike lanes around the square.
The council this week endorsed a revised concept plan to deliver the $20 million worth of works at a special council meeting.
It remains $80 million shy of being able to finish the masterplan it unveiled in 2010, including a cafe, public garden and event stage.
Central Market Traders’ Association president Franz Knoll wanted the council to get the ball rolling, despite it lacking enough money to complete the project.
“At least the council is keeping true to its commitment,” Mr Knoll said.
“It cannot raise such large sums of money to do such a big project in one hit ... they can do it in bite-sized chunks.”
Grote Business Precinct vice-president Bill Marles said the project would need to be staged even if the council had attracted external funding.
“It is such a huge task, it could not be done in one go,” Mr Marles said.
“Even though the council has not got backing from the State or Federal governments, the fact they are putting money forward shows their commitment to forge ahead with it.”
A council spokeswoman said staff were waiting to find out if Vic Sq would receive funding from the Federal Government after applying for money under its Liveable Cities Program.
The project missed out on a share of State money in last June’s budget.
It was then denied $25 million in Federal money under the Regional Development Australia Fund in July.
Lord Mayor Stephen Yarwood said the council was determined to deliver the project in stages but could not pinpoint when it would be completed.
“(The) council’s budget is tight, the State Government’s budget is exceptionally tight and so is the Federal (Government’s budget),” Mr Yarwood said.
“I would not rule out it being completed in three to five years but I would not rule out it taking longer.”
Community consultation on the draft budget closes on May 21.
[Shuz] wrote:Oh for god's sake. Scrap the project and spend the $20m elsewhere. Reduce the council debt or fast-track either the undergrounding of powerlines, footpath or road maintenance programs. With the onset of the Rundle Mall and Riverbank redevelopments, there are only so many places people can go to. It is a white elephant in the making. Adelaide just doesn't have the critical population mass needed to make viable another 'large events space'.
Wayno wrote:ACC is adequately funding Rundle Mall & East End. State Govt is funding Riverbank, not ACC.
[Shuz] wrote:Reread my post Wayno. I never said anything about ACC funding Riverbank.
Wayno wrote:[Shuz] wrote:Reread my post Wayno. I never said anything about ACC funding Riverbank.
yes shuz - no probs. AdelaideAlive implied such. See his post above.
Wayno wrote:AdelaideAlive, nice try at deflection. Perhaps the ACC could contribute funds to AO and the new RAH as well
SRW, i agree.