PUBLIC WORKS COMMITTEE: BOWDEN URBAN VILLAGE

Mrs VLAHOS (Taylor) (11:14): I move:

That the 404^th report of the committee, entitled Bowden Urban Village, be noted.

The Public Works Committee has heard from the Land Management Corporation about Bowden Urban Village, and the project will result in many things for the state. I would like to outline them here today before moving this part of the agenda forward.

The private sector development in this new high density, walkable community will provide more than 2,200 dwellings and associated retail, commercial and community facilities on about 16 hectares of inner city land held by the LMC; the creation of a wide range of serviced allotments by LMC for sale to a variety of developers and builders for higher density housing and retail and commercial uses; affordable purchase housing and high needs, low income and moderate income housing to meet the needs of the state housing plan targets; and funding by LMC for high-quality public realms areas incorporating parks, water recycling and sustainable development initiatives, including an iconic cycle pedestrian bridge, a tri-generation local energy system and the upgrading of adjoining parklands, plus an integrated community with an eventual population of more than 3,500 people and the provision of 1,000 jobs, as well as the demonstration of the climate smart precinct for the state.

Some of the characteristics of the new urban form envisaged in the 30-Year Plan for Greater Adelaide, which are the key characteristics of the Bowden Urban Village proposal, include a concentration on housing in existing areas to take advantage of the existing infrastructure and reduce new infrastructure costs; locating new housing and new jobs in transport-oriented corridors to make sure that the transit is connected to the city; the establishment of TODs as the centrepiece of a new open form; increasing densities in and around the rail, bus and train stations and transport interchanges; placing emphasis on good design and creating unique precincts; creating vibrant mixed use precincts with a greater mixture of building uses for the community; revitalising major activity centres, including the City of Adelaide; and achieving a diversity of dwelling types and forms.

This project is anticipated to generate a total project revenue of $289.6 million, with a CSO revenue of $52.8 million, against a total projected expenditure of $264.7 million to produce a net development margin of $77.8 million. Based on cash flows at today's prices, the project internal rate of return (IRR) is forecast to be 9.9 per cent, and the project NPV is minus $0.24 million (that is a discounted rate of 10 per cent).

Construction, including the civil construction and public realm construction, is planned to be completed in or around January 2013, with land release beginning in November 2012. Based on the evidence presented to it, and pursuant to section 12C of the Parliamentary Committees Act 1991, the Public Works Committee reports to parliament that it recommends the proposed work.

Ms SANDERSON (Adelaide) (11:17): I would just like to say a few words regarding the Bowden Urban Village. Although it is not in my electorate, it is directly next to my electorate and would greatly affect the people in my area. As you may well know, it is the Liberal Party's policy to build a second campus of Adelaide High School on that Bowden site, and I would just like to highlight the importance of area being set aside, preferably at the front near Park Terrace, so it is across from the playing fields, to allow for a public high school.

As mentioned, 3,500 extra new residents are expected to move into the area. Already, over 400 people a year try to get into Adelaide High, so we already know there is a huge demand, and building up this area will only increase that demand. There is actually no high school in the whole of my electorate other than Adelaide High, so there is already a huge need, and I want to make that extremely clear.

I certainly welcome the high and medium density housing that is proposed in this purpose-built TOD, and I hope that it will take the pressure off all the urban infill in areas like Walkerville and Prospect. People move into the area specifically for the character and the size of the block, and I think that under the 30-year plan there are some serious concerns about the loss of the whole character and the reason they bought in those suburbs if we keep splitting every little piece of land in half. I think the Bowden Urban Village is a wonderful way of getting inner-city living that is close to amenities that already exist, such as the railway and the tram stop that are right there, and the bus, which is also why it is a perfect location for another high school—because it is so convenient and accessible. So, I just wanted to commend the project and say I think it is a great idea, but please do not forget to save land for a public high school.

Motion carried.