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.

"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 buil

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