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Published 16 Dec, 2024

The first park-facing townhouses at Renewal SA’s $80 million Prospect Corner development have gone on sale today as part of the project’s latest sales release.

Overlooking Payinthi Reserve, the central park of the 2.63-hectare estate, the latest sales release includes a mix of architect designed, three-story townhouses, adding to the mix of housing diversity in the area.

Peter Gatsios, Executive Director of Residential Project Delivery and Assets at Renewal SA, said the latest stage aimed to meet the varied needs of homebuyers in the area.

“Prospect Corner offers both affordable and premium homes. We are pleased to bring this new stage to the market and extend some high-end diversity into the development,” he said.

The townhouses released today start from $860,000 and range up to $1.05 million for direct park facing homes, with buyers able to select from a range of fixtures and finishes.

This is the fourth sales release for the government-led project at the corner of Churchill and Regency Road, which aims to deliver 208 new homes upon its completion in 2028.

So far, a total of 38 townhouses have been sold at Prospect Corner since sales launched in December 2023, 18 of which were affordable under the state government’s HomeSeeker SA scheme.

This latest release coincides with the start of construction on two architect designed affordable rental apartment complexes within the development, as part of the Australian Government’s National Housing Accord, which aims to build one million new ‘well-located’ homes over the next five years.

Kennett Builders have broken ground on Lots 18 and 59, which will deliver 100 Five Star Green Star rated homes, including a mix of studio, single, two, and three-bedroom apartments designed by award-winning architects Brown Falconer.

The larger of the two complexes, Lot 59, will contain 71 affordable rental apartments over eight storeys, overlooking a newly developed reserve adjoining the central park and the Islington pathway.

“We have been working with the City of Prospect to create additional public infrastructure that meets the needs of today’s modern living standards,” said Mr Gatsios.

“This includes reserves within the Prospect Corner development and adjoining infrastructure, where we are working closely with the council to deliver more street art, dedicated bike servicing areas, rest stops, and easy access to the local train station.”

The five-storey complex located at the gateway of the development on Lot 18 will deliver 29 apartments.

Both apartment complexes are scheduled for completion in late 2025. The affordable rental apartments will be sold to and managed by a Community Housing Provider to offer them as private affordable rentals at less than 75% of the market rate.

Prospect Corner aims to deliver a total of 55% affordable housing upon its completion.