More details have emerged from a new development application lodged late last year, including an extra 20 metres in height. Developers are hoping for a decision this month to erect a 35-storey building at the rear of the heritage-listed Freemason’s Grand Lodge at 254 North Terrace.
North Terrace not only houses state parliament but the city’s convention centre, its growing biomedical precinct and innovative spaces in an area that once housed Adelaide Hospital. More than $1 billion has been spent over the past decade to develop world-class facilities along the major thoroughfare.
The development application lodged by the Freemasons in partnership with local property developer Pelligra Group has a reported value of $300 million.
A website for the development, known as Keystone, describes the project as “a building designed to continue and grow 188 years of charitable giving in South Australia. Keystone will drive us to new heights, with an expected $5 million plus to be donated every year”.
Part of the proposal includes a home for a new Museum of South Australia on five lower floors. Keystone is reported to have “locked in” a 236 room hotel from The Westin brand, occupying 16 floors, with office and event space above the hotel plus a three-level observatory with balconies on the top floors. Currently Adelaide’s tallest building is the Crowne Plaza hotel standing at 138m on nearby Frome Street.
Based on approval expected this month, Keystone Tower is forecast for completion by 2026.
The keystone is an ancient symbol of Freemasonry that refers to the final wedge-shaped stone placed into the centre of an arch providing stability to the construction.
