Developer Renewal SA will purchase the former Adelaide Bus Station site on Franklin Street as part of plans to deliver the new Tapangka precinct.
The 392-apartment Tapangka Build to Rent scheme is set to offer a blend of long-and-short term housing options and contemporary commercial, civic and retail spaces, alongside affordable housing within Adelaide’s CBD.
The new approach to city living is inspired by the experience of going on a journey: a journey of reconciliation, a journey of home ownership, a journey towards sustainability, and a journey of collaboration between the city and the state to achieve the best outcomes for the community.
In Kaurna language, this experience is known as Tapangka (Ta-pun-ka), and the celebration of the Kaurna culture will also be a significant feature of Tapangka’s identity.
Public open space owned by the City of Adelaide along Grote and Bowen streets will undergo a $1.2m upgrade by the state as part of the development in addition to extensive public art throughout Tapangka.
“This is a significant economic opportunity and a chance to set a new benchmark for inner city living so we need to enlist the most experienced and expert development partners from private industry, the not-for-profit sector, other levels of government and our First Nations people and local communities to participate in this project. Our key focus is to drive the long-term sustainability and prosperity of our capital and our state, and this is a substantial chance to revitalise a beloved part of our city by creating a thriving, multi-functional precinct that delivers high quality outcomes across a mix of housing, retail and commercial uses. The precinct will leverage Adelaide’s new confidence and international outlook by being bold in design, unapologetic in purpose and wholly focused on making people’s lives richer, easier and more connected – all the while targeting carbon neutrality.”
Chris Menz, Chief Executive, Renewal SA
Renewal SA have been chosen by Adelaide City Council to develop the 6,850 sqm site, which aims to be complementary extensions of the Adelaide Central Market experience.
1,000-plus residents will join the much-loved market district, living across two mixed-use towers. At least 137 (35%) of these homes will be affordable, including 51 affordable for sale apartments and 86 affordable rental apartments.
The precinct will also include a 208-key hotel to accommodate regional, national and international visitors. It will be the first CBD location to feature the emerging Build to Rent apartment model.
A central civic building will be a place of entertainment, culture and community, and a showcase of the very best of sustainable construction within a development that is targeting carbon neutrality.
This aims to be achieved via the use of sustainable building materials, reduced energy consumption, and through the promotion of clean transport options and electric vehicle usage.
“The State Government’s proposal will help accelerate investment and growth within our city. Adelaide needs more affordable housing, so I’m pleased this plan includes 35% affordable housing, more than double the 15% requirement – as well as Build to Rent apartments and an opportunity for investment in community space. There will also be space for retail and hospitality outlets, and a mixed-use development, which will no doubt enhance and support the much-loved Market District.”
Cllr Jane Lomax-Smith, Lord Mayor, City of Adelaide
A network of tree-lined laneways or ‘eat streets’ will be situated near the footpaths between Franklin and Grote streets, offering a combination of casual eateries and sit-down restaurant options both day and night.
They will be surrounded by a backdrop of living green walls that will provide shade and cooling and mitigate the impacts of the heat-island effect.
During the construction period alone, Tapangka is expected to generate 1,300-plus jobs and contribute over $161m of Gross Value Add to the state.
“This city-defining project, driven by affordable housing, will open the door to inner city living for South Australians who find themselves locked out of a market under significant pressure. We are bringing the Build to Rent model into the CBD for the first time, providing another way to help address housing shortages and ease the rental squeeze.”
Nick Champion, Minister of Housing and Urban Development
As part of the proposed deal, the City of Adelaide will retain use of the site until the end of 2025 allowing for the continued, short-term provision of on-site car parking during the core redevelopment phase of the nearby Central Market Arcade.
Bringing stakeholders ‘on the journey’ via ongoing engagement will form a strong part of Renewal SA’s governance over the Tapangka project, and will instil an early sense of local pride and ownership of the project.
Construction of the Tapangka precinct will be staged and is expected to commence in early 2026 with opportunities for designers, developers and builders to participate in the project. Project completion is anticipated by 2029.
