news
Market Square Project Adds Hundreds of Homes to Adelaide CBD
Construction across several central sites is adding hundreds of homes and new commercial space to the city core.
How we reported this
The $500 million Market Square redevelopment around Gouger and Grote streets is scheduled to open later this year, introducing a mixed-use precinct that combines an expanded Adelaide Central Market with retail, offices, a hotel and apartments.
This activity comes as multiple sites in the Adelaide CBD move from planning to visible construction, shifting how residents and visitors experience the central streets. The changes arrive at a time when demand for city living continues to draw attention from local buyers and investors seeking proximity to established amenities.
Key sites advance across the CBD
Victoria Tower on Grote Street stands complete at 37 storeys with nearly 300 apartments plus office and retail space. Franklin Tower on Franklin Street is under construction as a 23-storey building designed in a Japandi style on the site of a former pub. Further east, the City East project between Pirie and Flinders streets plans more than 700 homes in four towers reaching up to 39 storeys, together with a hotel and retail areas. The $900 million scheme includes around 200 affordable homes through a partnership involving the state government, the City of Adelaide and community housing providers. At 88 North Terrace a 33-storey tower is rising on the site of a former car park behind the city’s oldest church.
North Terrace is also seeing further student accommodation projects take shape, adding to the residential mix already underway elsewhere in the CBD. The Market Square scheme itself will restore red brick arches on the market frontage while adding childcare, workplaces and public spaces intended to extend activity beyond traditional market hours.
Next steps for residents and visitors
People walking through the CBD can track progress at these locations as hoardings come down and new structures reach their planned heights. The developments are expected to increase housing choices in the central area while supporting retail and hospitality uses that benefit from the added foot traffic. Details on the projects are drawn from reporting published by The Post SA on 8 April 2026.