A bold $130 million proposal from prominent South Australian developer Karidis Corporation would see an 18-storey, 90-metre tower rise at 15 Colley Terrace, Glenelg, eclipsing the suburb’s current 12-storey skyline and becoming its tallest building by six levels.
The family-owned company, founded in 1975 by Greek-Australian businessman Gerry Karidis AM, has delivered more than 5,000 homes, retirement villages and commercial projects across South Australia and Victoria. Mr Karidis migrated from post-war Greece as a young man, starting work as a wharf labourer in Port Adelaide before building one of the state’s most successful private development empires.
The mixed-use tower would deliver 104 luxury apartments, including:
- Five levels of serviced apartments
- Six levels of retirement living (an extension of the nearby Karidis-owned Avista Glenelg village for over-55s)
- A ground-floor restaurant
- 106 car parks across basement and podium levels
Karidis Corporation executive Peter Karidis said the project challenges Adelaide to “grow up” and embrace well-designed height.
“When the 12-storey Atlantic Tower was built in the 1970s, everything else in Glenelg was three storeys or less, so relatively it was much taller,” Mr Karidis said. “Height itself isn’t the issue; it’s about context, good design and quality architecture. If it looks right and fits the location, it should be supported.”
The slender tower form was developed in consultation with the state government’s Office for Design and Architecture SA, which favoured a taller, elegant structure over a bulkier mid-rise alternative.
Living rooms and balconies have been oriented to capture panoramic views toward the coast and the Mount Lofty Ranges. The ground floor will feature a publicly accessible covered walkway with automatic sliding doors linking Colley Terrace to the beachside promenade.
Because the building exceeds 44 metres, Adelaide Airport must assess any potential impact on aviation safety.
The site is currently a car park following the demolition of the former two-storey Colley Mews apartments last year.
If approved by the State Planning Commission, construction is expected to begin in the second half of 2026 and complete in late 2028.
The development application is now on public exhibition, with submissions open until 19 December 2025.
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