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Published 01 July, 2025

The first of two multi-storey affordable rental apartment buildings at Renewal SA’s Prospect Corner housing development has reached its highest point, officially ‘topping out’ its top floor.

The first of two multi-storey affordable rental apartment buildings at Renewal SA’s Prospect Corner housing development has reached its highest point, officially ‘topping out’ its top floor earlier this month (June).

South Australian construction company Kennett has poured the concrete slab on the highest point of construction at Lot 18, a five-storey building set to deliver 29 affordable rental apartments by December.

Anthony Carbone, General Manager of Kennett, said an accelerated construction programme had been undertaken to meet Renewal SA’s timeline to increase housing supply to the market.

“The topping out at Lot 18, Prospect is a significant celebratory milestone for the construction team, signifying the completion of the main structural work and the start of the next phase of building fit out and facades,” Mr Carbone said.

Topping out refers to the milestone of the last beam or structural element placed on top a building under construction, typically marking the point where its reached its maximum height.

Lot 18 is one of two apartment buildings being delivered by Kennett at Prospect Corner. The other, located on Lot 59, will contain 71 apartments over eight floors, due for delivery in March next year.

“In partnership with Renewal SA we will be delivering 100 new affordable rental dwellings in an accelerated manner and on time,” Mr Carbone said.

Designed by award-winning architects Brown Falconer, the buildings - one located at the entrance to the master-planned community and the other near Islington Train Station, will deliver a mix of studio, single, two- and three-bedroom apartments, all meeting a 5 Star Green Star rating.

Once complete, the apartment complexes will be sold to and managed by a Community Housing Provider, where they will be offered to eligible occupants at 74.9% of market rent.

Peter Gatsios, Executive Director of Residential Project Delivery and Assets at Renewal SA, said the delivery of affordable apartments in the area would contribute to making Prospect Corner a dynamic community that thrived through housing diversity.

“The location and amenities of Prospect Corner are fantastic, and being able to deliver a range of housing options at affordable pricing both through sale and rental will no doubt enrich the community and offer opportunities for people from all walks of life,” he said.

The delivery of the two apartment buildings was a key government initiative in the June 2024 Housing Roadmap, expanding on the original target of 72 apartments, the number announced at the beginning of Prospect Corner in 2021.

Prospect Corner aims to deliver a total of 55% affordable housing upon its completion in 2028, when Renewal SA hopes to have delivered all 208 planned homes.

Currently, 16 townhouses, a mix of two- and three-storey homes are under construction on the eastern edge of Prospect Corner by Adelaide-based BuildTec, with the first residents expected to move in by the end of the year.

National builder Burbank will soon begin construction on an additional 34 homes in the southwestern corner of Prospect Corner, aiming for completion in late 2026. The homes will include a mix of two- and three-bedroom townhouses.

Meanwhile, work will start in July on the delivery of Parkana Reserve, located at the corner of Churchill and Regency Roads, while work continues on the delivery of Payinthi Reserve, the estate’s main central park and one of three planned green spaces for the community.

Scheduled for completion next month, Payinthi Reserve will feature a large central lawn, a plaza with all-weather shelters, BBQ facilities, bike racks, and drinking fountains.

To the west, there will be an active zone with fitness equipment, a nature play area, additional bike racks and drinking fountains, and low seating walls.

“We’ve worked closely with the City of Prospect and consulted with local schools and residents to shape the park plans, and we believe the new community will be really pleased with the result,” Mr Gatsios said.

A range of premium, park-facing townhouses will be released later this year.

Located just seven kilometres from the Adelaide CBD, Prospect Corner sits at the intersection of Churchill and Regency Roads.