This allows for social, affordable and market housing to be built at the 20 hectare site.
The proposed redevelopment, known as Oaklands Green, is expected to boost the economy, create more than 1,000 jobs and deliver new social, affordable and market housing to the area.
The renewal project is a partnership between the Marshall Liberal Government, Housing Renewal Australia (Oaklands Park) and Junction Australia.
The proposal replaces 255 ageing Housing SA properties with one-for-one with new, high quality, fit-for-purpose homes, which will be managed by Junction Australia.
In addition, an estimated 425 new social and affordable houses are included in the master plan, as well as upgrades to public infrastructure, including roads, footpaths and new open, green spaces.
Minister for Planning and Local Government Vickie Chapman says the proposal is touted to have an economic benefit of almost $400 million.
“It’s expected to create 1,215 jobs over the life of the project, which is anticipated to take eight years,” Minister Chapman said.
“This is on top of the initial and immediate economic stimulus of $135 million,” she said.
Minister for Human Services Michelle Lensink said the project was welcome news for low-and-moderate income South Australians wanting to enter the housing market.
“Currently, this area of Oaklands Park is home to dated 1950s public housing situated on huge blocks of land – and this multi-million redevelopment will renew, rejuvenate and revitalise the suburb and surrounds.
“This redevelopment provides better housing choices for South Australians, from those looking for their first home, to those downsizing, to those ageing in place.”
The Oaklands Park redevelopment aligns with the commitments in the State Government’s new Our Housing Future 2020-30 strategy to increase the supply of affordable housing and to improve social housing dwellings for tenants.
It also aligns with the strategy’s intent to drive not-for-profit and private sector investment in the delivery of new social, affordable and market homes through neighbourhood renewal.
Housing Renewal Australia will manage and fund the eight-year master plan renewal project in stages including demolition, housing construction and civil works.
Project Director Geoff Smith said the Housing Renewal Australia hopes to get construction underway in April.
“By working so closely with the State Government and City of Marion, we have the opportunity to set a new standard for what a master planned development can deliver for a community and its residents,” he said.
“We can’t wait to get started and work with tenants the broader community and our partners at Junction to build these new homes and community open space facilities that will be the new Oaklands Green.”
Junction CEO Maria Palumbo said the project would pave the way for improved opportunities along with new homes.
“This is a once-in-a-generation opportunity to improve this area and above all, the outcomes for everyone who is part of this community now – and into the future,” she said.
For more information visit oaklandsgreen.com.au