Project name: Riverbank Precinct Plan
Client: Renewal SA
Project description: The South Australian Government unveiled a long-term plan for Adelaide’s Riverbank, developing a precinct that stretches from Bowden in the west to Gilberton in the east. The Plan focused on four key areas of investment: a revamped Bonython Park, bio-medical precinct, entertainment precinct and the current Royal Adelaide Hospital site. Planned or committed investment for the Greater Riverbank Precinct already exceeds $4.5 billion and the Plan sought to builds on investment made in Adelaide Oval, Footbridge, Adelaide Convention Centre and the upgraded Railway Station.
MacroPlan was engaged to prepare a commercial implementation strategy for delivering the Riverbank Precinct. Our key focus was on the:
- Key opportunities and constraints within the precinct and more broadly for the City of Adelaide;
- Analysis of the precinct’s natural cultural and economic features and functions and interpretation of likely social, cultural and economic benefits of implementing the plan;
- Identification of opportunities to facilitate activation including uses and events, retail and commercial activities and key infrastructure required; and
- Development of a staging plan over a 20 year period.
The tasks associated with this project included:
- Activity drivers – define key commercial (and associated) activation drivers for the riverbank precinct and provide a case study reflecting best practice ideas;
- Market analysis – prepare a market sizing analysis for the Riverbank precinct/key nodes (reflecting designs/options) and provide advice on an appropriate land use mix, development formats and sequencing, having regard to the wider CBD market context; and
- Investment attraction and implementation strategy – provide high level advice in relation to appropriate strategies for attracting investment and ensuring timely development and delivery within key nodes throughout the precinct.