New Torrens Riverbank masterplan extends to Bowden The SA Government has unveiled a new masterplan for the Riverbank precinct. Video: Supplied A NEW masterplan has been revealed for Adelaide's Riverbank precinct as the State Government also confirms it has received a proposal to redevelop Festival Plaza. Premier Jay Weatherill today released a high-level concept plan earmarking future uses of land between the Bowden redevelopment, the Riverbank and North Tce. The plan's vision is to create a "grand central park and cultural precinct" between the CBD and North Adelaide to attract more people and investment. It contains little detail of plans for new construction and does not explain what kind of development is planned for the old Royal Adelaide Hospital site. The Government is now consulting on what should be done in four key precincts - Bonython Park, the biomedical precinct, core entertainment area and old RAH site. Construction of the River Torrens foot bridge is underway. The plan comes after the Government has committed billions of dollars to other developments, including the Adelaide Oval and Convention Centre upgrades. Adelaide Casino is also considering a $300 million expansion. Mr Weatherill said the plan was "about imagining a future for South Australia which has at its centre a vibrant city which attracts people to come and enjoy this beautiful park." "This plan is all about creating a new identity, a park in the middle of the city," he said. There are so many important opportunities here that we thought, at this stage, it was crucial that we made sure that they were planned by reference to each other. The connections between each of these areas is so important. Mr Weatherill confirmed the Government had received plans from developer Lang Walker for the redevelopment of Festival Plaza and was considering them. "There is a proposition that has been sent to the South Australian Government," he said. We've made it very clear that all of these things need to speak to one another. We will be making a decision about that matter soon. Mr Weatherill said further Government money was not currently being sought. Deputy Premier and Planning Minister John Rau said the Greater Riverbank Implementation Plan would be displayed at the Convention Centre at a public open day on Sunday.