Changes to legislation regarding tower height in the city centre are the sign of a new direction for Adelaide, a leading residential developer says.
Loucas Zahos Architects director Michael Loucas said the new conditions cemented the decision to invest in ART Apartments; a 14-storey apartment building in the city’s east end.
Mr Loucas, also a director of the development company involved Guava Lime, said the freedom to build up and be creative with orientation really inspired the innovative design.
“Given that Adelaide has been a reasonably untested market for taller buildings, this opportunity allowed us to put our toe in the water (with aesthetics and apartment styles),” he said.
“Our market research at that time showed the target was predominantly affordable living or a development that would present as low end financially but with high end style.”
The development on Flinders Street in the heart of the CBD features an eight-storey art mural designed through collaboration among local artists to give the apartment building a sense of place and identity.
ART Apartments also fuse the appealing points of Adelaide city living with an eco-friendly ethos providing extensive parking for bicycles and also an electric car for residents.
“We’ve noticed in the past 15 years there has been a general take up of people choosing city lifestyles,” Mr Loucas said.
“Adelaide city itself has a lot of appeal, it’s almost underdeveloped in a sense. You can be nestled amongst parklands but you are linked to so many wonderful precincts… people relish being able to walk or ride everywhere.”
He said ART Apartments was also the first example of a development that presold predominantly to the local market, showing a shift in demand and attitude. There are 48 apartments within the building.
“Adelaide has had a delayed reaction to inner city living,” Mr Loucas said.
“Adelaide was a front runner at the turn of the Century in terms of cosmopolitan living and layout… now it’s returning to that mentality again.”