Premier Mike Rann and Infrastructure Minister Patrick Conlon today announced that the State Government will buy the 10 hectare ‘Clipsal Site’ at Bowden from the Gerard Corporation and transform it into an inner-city ‘green’ village.

It is anticipated that the site will be used to develop around 1500 medium and high-density ‘green star’ residential apartments, retail outlets and a mix of commercial offices around a town centre concept.

The site already incorporates a small street network with clearly marked out blocks of land.

It is perfect for building an almost self-contained sustainable village right on the doorstep of the parklands and right next to the new electrified rail and tram system.

The Bowden site was originally occupied by the Clipsal Corporation in 1936 but has today become surplus to the needs of the company. The site contains a number of heritage-listed buildings that will be incorporated into the overall final design of the village.

The Land Management Corporation will borrow an amount from the SA Government Financing Authority to fund the acquisition and initial site preparation works. The Gerard Corporation is expected to vacate the site in late 2009.

The project is expected to take 12 to 15 years to complete depending on market demand, with the first sites available for development in early 2011.

It is anticipated that LMC, in conjunction with other agencies and Charles Sturt Council, will develop a master plan for the area, including urban design guidelines, prior to offering individual sites to private sector developers.

As the Clipsal site is currently zoned for industrial use, the area will have to be extensively rezoned as part of a Ministerial Development Plan Amendment process before any redevelopment can begin.

The ministerial rezoning process involves scope for comprehensive public consultation and input from the various government agencies, local government and community groups.

The sale price will be revealed after settlement has been finalised late next month.