The first image of the $275 million high-rise, to accommodate early retirees, retail and hospitality sectors, was released by Karidis Corporation this morning ahead of its official launch tonight.

The developer announced the construction of four multi-storey towers on the former Trims site on King William Street would create jobs for some 500 trades and ongoing employment for hundreds more.

Karidis Corporation chairman Gerry Karidis said the complex would suit residents who wanted to “swap their house in the suburbs” for a high style of living.

Standing by his words, Karidis said he would be the building’s first resident and move from his home of more than 40 years near the CBD for one of the penthouse suites.

He said he would also relocate the Karidis Corporation to the new building from its Angas Street headquarters.

“This unique development has something for everyone, and will be a perfect living choice for those individuals and couples approaching retirement or are semi-retired that want to enjoy five-star hotel surroundings within their own city apartment and panoramic views every day of the year,” Karidis said.

“This will rival the standards of apartments found in some of the greatest cities around the world, and we are very proud to be able to bring this new luxury accommodation option into the heart of Adelaide for people to enjoy.

“We expect a great deal of market interest from locals wanting to swap their house in the suburbs for trendy, upmarket city living, as well as those older overseas professionals wanting to secure a location that has great events, cafés, bars and restaurants right on the doorstep, the Central Market and Gouger Street only a short stroll away, and easy access to the beach on the tram.”

The development will include a piano lounge, “Singapore-inspired” roof-top bar, hotel, French patisserie and a range of multicultural restaurants.

No start date has been provide.