Developers, investors, a new train station, a big brewery, an AFL club, $25 million of state capital and $30 billion of promised construction on a nuclear submarine-building deal are transforming historic Port Adelaide from the post-industrial backwater it was only 15 years ago.
Last month, Prime Minister Anthony Albanese confirmed the Commonwealth would provide a $3.9-billion “down payment” toward a new submarine construction yard expected to drive $30 billion of construction at the Port Adelaide locale of Osborne under the trilateral AUKUS defence pact.
Damon Nagel, managing director of Kite Projects—which is redeveloping the 10-storey former Marine and Harbours Building into a 100-room retro hotel at the Port—says the AUKUS announcement will add to the development activity generated by current submarine maintenance at Osborne.
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