Renewal SA last week submitted planning applications to the State Commission Assessment Panel for the building’s development on the former Royal Adelaide Hospital site.
Lot Fourteen state project lead Diane Dixon said the successful proponent would be announced once the contract was finalised in December with construction of the 16-storey building to begin in mid-2021.
Dixon said the developer had been selected based on their commercial offer, development team and previous experience, and that the government were currently working through the contract details.
The project is expected to be complete by the end of 2023 and is described on Lot Fourteen website as the “iconic flagship” of the innovation precinct, which will “set the global pace for multidisciplinary innovation, collaboration and entrepreneurship”.
Premier Steven Marshall has previously heralded the Lot Fourteen development as “a beacon of opportunity for the next generation”.
“It’s going to drive start-ups and encourage entrepreneurship,” he said.
“This precinct is going to generate a jobs bonanza for our state and stop the brain drain of young talent we’ve seen in the past.”
Lot Fourteen is backed by the South Australian and Australian governments and includes an Aboriginal Art and Cultures Centre, a number of heritage-listed buildings which are being repurposed and the Entrepreneur and Innovation Centre.
It is also boosted by a $150 million investment from the Federal Government under the Adelaide City Deal.
Renewal SA sought expressions of interest for the Entrepreneurial and Innovation Centre developer on behalf of the government in August, with applications for a builder to design, finance and construct the centre closing last month.
Adelaide City Council is expected to provide its feedback on the development in November while the government architect and Heritage SA will deliver their views on December 15.
Renewal SA said the Federal Government had committed up to $20 million towards the establishment of an “innovation hub” on the ground and first floors of the 16-storey building.
The 2500 sqm hub will be spread across the two levels and is set to be a mix of commercial, office and functional rooms, while about 300 sqm of the ground floor will also be dedicated to retail food and beverage spaces.
The new building is expected to total 35,000 sqm of lettable area for startups and entrepreneurs.
Lot Fourteen aims to bring together the state’s space, defence, hi-tech and creative industries and is already home to the Australian Space Agency the Australian Institute of Machine Learning and the Stone & Chalk startup hub.
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