Cranes - A sign of a city on the move
Developer Hines Property is transforming the Adelaide CBD skyline as it revitalises the heart of the city with its innovative building projects.
The tower crane to their Conservatory project was installed over the weekend.
The company now has three high-rise towers under way in Hindmarsh Square, with an end value of more than $200 million - the 19-level Conservatory on Hindmarsh Square, an Australian-first green residential and office tower, 20 Hindmarsh Square, a 15-storey luxury apartment tower, and the 16-level, 300-room Crowne Plaza Hotel on the site of the former Academy Cinemas.
Hines Property Director James Hines said it was a real achievement for his group to be playing such a leading role in the city's construction boom.
"When we started work on our first major CBD project for Adelaide, the Pacific International Suites in 2001, our crane was one of only two in use in the city," he said.
"As an indication of just how much things have changed, our company alone will shortly have three cranes in operation in Hindmarsh Square and there are numerous others around the city."
"It's exciting and satisfying to have led the way in an area that is so important to the city's development and the state's economic future."
Mr Hines said Hines Property had deliberately focused on Hindmarsh Square over the past eight years for its residential, office and hotel developments.
"The square is the closest of the city's parks to Rundle Mall shopping precinct, the universities and museums, and the major office towers and corporate activity of the CBD," he said
"Apartment purchasers in Conservatory and 20 Hindmarsh Square have recognised that there are unlikely to be any new apartment opportunities in Hindmarsh Square for many decades or until existing office buildings outlive their use.
"This could be 50 years away or maybe never."