The South Australian Development Assessment Commission (DAC) has approved a $40 million boutique apartment development in the tightly held East Terrace precinct in Adelaide.
The plans for 200 East Terrace have received support from the South Australian State Government Architect (Office for Design + Architecture) and the Department for Environment and Heritage.
This support was given as part of the South Australian government’s pre-lodgement agreement and follows a rigorous design development process by the developers in consultation with the Capital City Design Review Panel.
Global Intertrade Group of Companies Managing Director Manuel Ortigosa said 200 East Terrace will set a new standard for apartment design in Adelaide.
“Unlike most city apartment developments 200 East Terrace has been designed for owner-occupiers at the prestigious end of the real estate market,” said Mr Ortigosa.
“The design comprises four low to mid-rise buildings developed around a lush landscaped quadrant and directly opposite the East Parklands. There will be two four storey buildings facing the parklands and two eight storey buildings at the rear with sweeping views across the city.
“We expect strong interest from empty nesters seeking a stylish, low maintenance lifestyle as well as senior professionals working in the CBD.”
200 East Terrace will be taken to the market in March 2015.