The first residents of the $1 billion Bowden housing development will begin moving into their new homes within the next two months.

Renewal SA chief executive Fred Hansen said more than 100 houses, apartments and townhouses had been sold at an average take up rate of two weeks from release to market to purchase.

“Bowden has demonstrated there is a strong appetite for higher-density living in areas undergoing urban renewal by offering a variety of thoughtfully, architect designed homes, including apartments,” Mr Hansen said.

“Adelaide’s western suburbs are ideally positioned close to the city and the sea and homebuyers can see the value that the high quality homes offered at Bowden represent.” Two parks are within the site – the Kevin Taylor Park which had its playground built with recycled steel and brick from the former Clipsal site and Gibson St Reserve which has undergone an upgrade.

Another three parks are planned.

A pedestrian bridge will link Bowden to the Parklands – which will also undergo a multi-million dollar upgrade.

Real Estate Institute of SA chief executive Ted Piteo said buyers were flocking to the development, which fronted Park Tce, because it offered affordable housing close to the city.

“Its location is a jewel in its crown but it also offers modern housing that is well connected with the tram and public transport,” Mr Piteo said.

He said young professionals, families and retirees could all be attracted to the area.

“The parklands and North Adelaide are just over the road as is the Entertainment Centre so it really is offering something for everyone.” First-home buyers Sam White and fiancee Rikki Peters, both 25, said they bought at Bowden because of its proximity to the city. “We also thought it would be a good investment down the track, especially if we decide to rent it out,” Mr White said.

Stage 2 of the development between Fourth and Second streets and Park Tce to Gibson St will begin in 2015.

More than 2400 homes are planned for the site over the next 10-12 years.

Author: Ken McGregor

(Article originally published in and extracted from City North Messenger, Adelaide, General News, page 8 on 19 March 2014.)