This ties in with the "redevelopment clock" I've felt has been sweeping around the city. In the past we saw booms + infrastructure renewal in the eastern suburbs, Unley, Goodwood, then Mile End.
Imho the inner northwest has a lot of upside over the next decade. Started with the Port Rd tram line and redevelopment of the Entertainment Centre, but then there's Bowden (Clipsal site) and this Woodville development which suggests that the West Lakes tram line, though deferred, will also go ahead in some form.
First post for me! I've been watching this one for a little while now, and it seems as though the redevelopment includes a mixture of small apartment buildings as well as detached dwellings along with a newly created park (http://www.charlessturt.sa.gov.au/site/page.cfm?u=629). Along with the improving transport situation some point further down the track, I might keep my eye on this area for a potential first IP.