Sensational-Adelaide.com

DaShyFreak wrote:So is the demolition underway? Or has it been delayed?

Brando wrote:

DaShyFreak wrote:So is the demolition underway? Or has it been delayed?

Demolition has commenced. Not much from the front, but behind the building you can see they have started. I could be wrong, but I think they have asbestos removal with this site.

Brando wrote:Some serious demolition currently underway.....

$12 million Flinders St project in Adelaide kicks off



PAUL Pruszinski admits undertaking a multi-million dollar office development in the midst of an economic downturn is a risky move.

But by managing the risks and finding ways to cut costs, the architect-turned-developer is forging ahead with construction of new premises.

The $12 million Flinders St project started early this year and will comprise ground floor retail space - to be occupied by Snap printing - two levels of car parking and five levels of office accommodation.

The top two levels will form a showpiece "glass box" and will be occupied by Mr Pruszinski's practice.

"I'd always looked at the old building that was there and thought it would be a fantastic place to buy," Mr Pruszinski says.

"We sat on it for about 12 months and, while rents are down, the question was whether you build now to take advantage of low construction costs."

Despite being unable to secure pre-commitment tenants for three levels of office space - each spanning around 480sq m - Mr Pruszinski decided to proceed with construction.

"We've de-risked the project," he says. "The challenge for an architect is to make it (a project) market-acceptable - as an architect you always want to express yourself but the market might not accept it."

Mr Pruszinski says he has saved around $1.5 million by delaying the fit-out of the three vacant floors until tenants are secured.

A feature of the development will be a five-storey "wind arbour" made from thousands of photo-sized panels and located on the western wall of the building.

A pair of glass-walled lifts in the centre of the northern facade will also feature as well as the city's largest green wall of vines and plants fronting the two storeys of car parking.

Mr Pruszinski has managed the development of several projects, including his current Pulteney St premises which he built eight years ago.

In recent years, he has become known for his out-of-the-box designs of high-rise apartment projects across the CBD.

But with many projects failing to secure sufficient pre-sales, Mr Pruszinski says architects must think outside the square in order to attract residential investment in the CBD.

"For some (developers) it's been a harsh reality that you can't lob 400 apartments into Adelaide," he says.

"I don't think there's room for a typical apartment building in this market - people want more."

Mr Pruszinski points to an apartment project at Surflen St, which he has designed to replicate features of a typical suburban house - including private gardens, front and back doors and front paths.

As a passionate supporter of making the CBD a more vibrant centre, Mr Pruszinski is critical of the State Government's proposed car parking levy.

"We should be making the CBD the most favourable place to do business," he says. "It's OK if the public transport system is up to standard but I doubt that it is and I'm concerned with what it will do for the vibrancy of the city."

Knight Frank director Andrew Ingleton, who is marketing the Flinders St development to tenants, expects interest in the project to ramp up as construction of the building progresses. "People have come and gone and shown some interest - but when it looks like a building people will come out of the woodwork," Mr Ingleton says.

The Flinders St project is due for completion in October.

Ben wrote:Even though this is only 8 levels it's making quite an impact. You can see it from rundle mall/pulteney intersection and not even at full height.

Dog wrote:Good to see someone put their own money in up front, Would love the owner of all those Adelaide landmarks with their family name in blue and white do a little redeveloping.

Dog wrote:Rev, I have to agree just wish so much of Adelaide wasn't frozen in the 1950's,