South Australia's Development Assessment Commission yesterday approved plans for a $200 million development in North Adelaide which will incorporate a Sheraton Hotel. The Makris Group project at 88 O’Connell St, designed by Ignite Architects, will incorporate eight buildings including a 160-room five star full service hotel; 131 residential apartments spread over three different buildings - an elegant curved building on the corner of O’Connell and Tynte Streets, a tiered building above retail and commercial tenancies at the southern end of the site and four levels of studio style apartments on boundaries adjacent to existing development on Centenary Street; 3,000 square metres of premium office space; 3,000 square metres of retail space and 441 car parks over three basement levels.

Makris Group is working with Starwood Hotels and Resorts to bring the Sheraton brand to Adelaide. Both parties have entered into a non-binding letter of intent and are now in the process of finalising legal agreements. Under the agreement, the 160-room Sheraton hotel will be completed by 2019. Apartments will be offered for sale in the first half of 2016. Registrations of interest are already being accepted. Construction is due to commence in 2016 and be completed by 2019. “My vision is to make North Adelaide the premium lifestyle destination for the whole of Adelaide,” said Makris Group Executive Chairman Con Makris.

This article first appeared in The Real Estate Conversation.

http://www.therealestateconversation.com.au/news/2015/06/12/200m-north-a...