Minister for Housing and Urban Development, Tom Koutsantonis said today interest in the State Government’s $1 billion Bowden development is building momentum with all 16 residential apartments from Rossdale Homes on Seventh Street selling out within five days.

“Strong sales at Bowden are a positive sign of things to come, not only for the South Australian property market but also for this modern style of urban living,” Mr Koutsantonis said.

“These sales figures show the development’s incredible potential as Bowden fast becomes a showcase of the benefits of higher-density living.

“The fact that we are seeing a high proportion of owner-occupiers signifies a real interest in experiencing a great community and convenient lifestyle.

“There has also never been a better time for buyers. Interest rates are at historic lows and a significant level of assistance is on offer through the Housing Construction Grant, First Home Owners Grant as well as the stamp duty concession, all worth up to $39,830.”

Bowden is a new generation development that embodies innovations designed to reduce energy bills conveniently located close to the city and the Adelaide parklands.

• More than 2,400 homes will be built in 15 years for about 3,500 new residents.
• Fifth, Seventh and Gibson Streets expected to be completed April 2013.
• Parklands Stage One upgrade expected to be completed summer 2013–14.
• Retail and essential services planned to become available mid-2015.
• Construction of the bridge over Park Terrace expected to be completed 2016–17.

Mr Koutsantonis said public consultation has also begun on the Adelaide Park Lands Upgrade that complements the $1 billion Bowden development.

“We are seeking public feedback on the draft concept plan for the upgrade that includes woodlands, sporting facilities and community gardens in the north-western section of the city parklands,” Mr Koutsantonis said.

“I strongly encourage people to attend the open day to be held in the Park Lands opposite the Bowden Information and Sales Centre on Park Terrace on Saturday 23 February.”

People can visit the Bowden Information and Sales Centre between 10am-4pm daily.