SA Government backs $610 million Adelaide Festival Plaza upgrade

Adelaide's Festival Plaza precinct is set for a $610 million upgrade through an agreement reached between the South Australian Government and a private developer.

The South Australian Government has committed $180 million to redeveloping the precinct, with the other $430 million coming from Walker Corporation, which includes $40 million towards the public works of the plaza.

The redevelopment will include a premium office building along a closed-to-traffic boulevard on Station Road, two levels of cafes, restaurants and retail behind Parliament House, a new underground car park and a complete redesign of the current Hajak Plaza.

South Australian Premier Jay Weatherill said he wanted the festival spirit to stay alive in Adelaide all year round, not just during February and March when the city hosts a number of events including the Fringe Festival and Adelaide Festival.

He said the "vital precinct" had been neglected as an entertainment area, while the car park had fallen into a state of significant disrepair, stating "the initial plans to rebuild the car park really presented us with a blank canvas upon which we could re-imagine what should be the city's premier cultural and entertainment precinct.

"These plans are substantial and the redevelopment seeks to extend the runaway success of the Adelaide Oval redevelopment with what we want to become Adelaide's best public space."

Riverbank Authority Chair Andrew McEvoy welcomed the plans, adding "unlocking the potential of this area of the Riverbank has been foremost in the mind of the Riverbank Authority since it was formed last October.

"The commercial development will perfectly complement other Government-funded facilities such as the Adelaide Oval, Adelaide Convention Centre and plans to improve the Festival Centre experience."

The State Opposition said it was "broadly supportive" of the development, with Liberal MP Vickie Chapman saying the redevelopment was "very similar" to the Opposition's 2014 election commitment to create a 'Festival Plaza' precinct that would utilise Elder Park, the new footbridge and the Festival Theatre as a public venue.

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