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The South Australian government has assumed control of the 1,900-home Eyre development in Adelaide's north after developer AVID Property Group exited the project. Housing Minister Michael Brown confirmed that hundreds of existing contracts will be honored while the state seeks a new commercial partner to complete the remaining homes.
The Eyre housing development in Adelaide's north involves plans for about 1,900 homes. A major housing developer has walked away from a 1,900-home project in Adelaide's north, leaving the development in the hands of the SA government.
Renewal SA said AVID Property Group had ended its involvement with the Eyre development, where "about 750" homes have been completed. Housing Minister Michael Brown said several hundred outstanding contracts would be honoured, and the government was now looking for a new commercial partner.
"Hundreds" of homebuyers will not be left in limbo despite a major developer walking away from a new estate in Adelaide's north, the state's housing minister has insisted. The Eyre development near Penfield, between Edinburgh and Andrews Farm, was announced in 2010, and includes plans for 1,900 homes on a 120-hectare site.
SA government agency Renewal SA said it had entered an agreement with developer AVJennings — since bought by AVID Property Group — to build the homes, and that "about 750" had been completed, along with sporting fields and a shopping centre. But it said that AVID had made the decision to "conclude its activities" in the South Australian market, leaving the remainder of the project back in the hands of the SA government.
Acting Housing Minister Michael Brown said the state government would seek to partner with another developer to deliver the project, and that outstanding contracts would be honoured.
"AVJennings are absolutely adamant that they will be delivered … so those who have signed deals with AVJennings need not be concerned. "The ABC has contacted AVID for comment — but in a statement on its website, it said it had "agreed to transition the developer role at the Eyre community" to Renewal SA. "The decision … is a strategic business decision reflecting AVID's focus on the Australian eastern seaboard," it said.
"While Renewal SA assumes responsibility for the future direction of the community, AVID remain committed to delivering in-progress and planned stages and amenities, including a park, streetscapes and blocks. "If you hold a contract for a lot in Stage 17 or 18, your contract remains on foot and AVID remains your point of contact for all settlement-related matters.
"Master Builders Association CEO Will Frogley told 891 ABC Adelaide it was "definitely disappointing" that the company had opted against further involvement in the project. "The main thing that Master Builders would really like to see is stability in the market — there's a lot of turbulence at the moment," he said. "Last year we built a record number of homes, so it is quite disappointing to see a brand that size, a national developer, moving away from South Australia.
" Renewal SA said the project would "remain on track" and that the "transition would not affect existing purchasers". It said AVID had committed to finishing "outstanding work on current stages, including landscaping and delivery of a reserve, while also working with existing buyers to finalise upcoming settlements required design approvals and ensure that all commitments to existing buyers are maintained".
"Eyre is a very significant development — there's already been a lot of interest from other developers over the years," Mr Brown said. Housing options on defence sites Meanwhile, Prime Minister Anthony Albanese was in Adelaide on Tuesday morning for talks on the future of the Hampstead Barracks, which was identified as a possible future housing development site
AVID Property Group Eyre Housing Development SA Government Adelaide Renewal SA
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