The South Australian Government and Adelaide City Council have made a joint investment of $14.6 million to transform Adelaide’s Riverbank to Central Market laneways.
The 2016-17 State Budget will include $7.3 million towards the project, which will see the upgrade of the small streets and laneways between the Adelaide Riverbank and Adelaide Central Market. Adelaide City Council is contributing the same amount in partnership.
The project will upgrade Bank Street, Leigh Street, Topham Mall, Bentham Street and Pitt Street to create a revitalised pedestrian and cycling connection between the Central Markets and the River Bank. The ‘Market to Riverbank Link’ will feature upgraded intersections, new paving, lighting, trees, landscaping, street furniture and public art.
Mayor of Adelaide Martin Haese said in a statement that this investment has the potential to realise up to $70 million in economic activity and utilise local procurement to create new jobs.
“Sixty nine new small venues have already sprung up around the city, bringing our evening economy to life, creating jobs and fostering a revived city atmosphere,” he said.
“Councillors are strongly supportive of the project as it builds momentum the city needs to continue to grow and encourage unique retailers and businesses to invest and thrive.
“Investing in the public realm and encouraging private investment is good for the city’s economy and we’re delighted the State Government shares our vision.”
The project will begin immediately with design work and feedback sought from traders and the local community on those designs. Capital works are expected to start in early 2017 and be completed in 2018. The project is identified as a priority in Council’s draft 2016-2020 Strategic Plan.