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Adelaide's skyline could significantly change if a half-billion dollar election promise by the state's premier comes to fruition. SA premier Peter Malinauskas today pledged $500 million to unlock housing inside central Adelaide, if Labor holds onto power at the March election. The policy would see more CBD apartment buildings dominate the city's skyline, with Labor vowing to act as guarantor for developers in off-the-plan builds. READ MORE: Woman seriously injured after car ploughs into outdoor dining at Sydney cafe "Our city needs to build out and up so that future generations have that shot at home ownership," Malinauskas said. "The reason we have a housing crisis in this country is because there have been too many political leaders who sat on their hands and watched it happen before their eyes." A maximum of $30 million per project will be on offer to finance the builds and kickstart construction. "2400 apartments are ready to go in our CBD right now, they've got the development approval, they just need the pre-sale financing requirements," Malinauskas said. The money is aimed at clearing the backlog of already approved apartments and encouraging city living. READ MORE: Trump says tech leaders and mayor changed his mind about using federal force in San Francisco The Liberals have criticised the "niche" policy but are yet to announce any plan to unlock more housing in the CBD. "We're not saying it's not something we'd do, but just on the face of it, it looks like an awful lot of product for potentially a small amount of product," opposition spokeswoman Michelle Lensink said. Should Labor be re-elected, the policy will begin next May. DOWNLOAD THE 9NEWS APP: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play.
