Over recent years SGS has worked closely with the Adelaide City Council to test options and staging schedules for the redevelopment of Victoria Square; Adelaide's principal square, located at the intersection of the two central axes in the city - King William Street and Grote- Wakefield Streets.
In the original plan for the City of Adelaide, Victoria Square was envisioned as Adelaide's focal point and as an open space for recreation. Since this time however, the prominence of the Square has varied and , in turn, the need for its regeneration has progressively emerged. Under Council's newly funded regeneration plans, the vision for the Square is to be an accessible and vibrant public square that is internationally recognised as a symbol of South Australia's unique culture and lifestyle.
SGS developed a model for short listing options and assessing the costs and benefits and economic impacts associated with each of the options for regenerating Victoria Square. The preferred option was then fed into the developed model to highlight how the regeneration project would lead to significant net benefits and economic impacts for South Australia. Numerous iterations of this economic appraisal process have been undertaken, as plans have evolved over the past 3 years.
Last night Adelaide City Council endorsed $24 million in funding for the first stage of the regeneration plans.
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