Gold Coast development: Construction begins on $2.3B Imperial Square supertower project
The first sod will be turned on the Gold Coast’s biggest single development, the $2.3 billion Imperial Square as the mega project is hailed as a “sign of things to come for the city.
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THE first sod will be turned on the Gold Coast’s biggest single development on Thursday, the $2.3 billion Imperial Square.
Workers will move in on the $155m first stage of the Southport project. The centrepiece will be a 108-storey supertower.
First to be built will be the 18-storey Regal Residences comprising 145 luxury apartments, including two penthouses, and a 4.5 star hotel with 200 suites.
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Azzura Group boss Robert Badalotti said construction had been fast-tracked on the back of the city’s surging population.
He said more than 50 per cent of units in the Regal tower had been sold.
Azzura plans to announce the hotel operator in coming weeks.
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The mega development, planned for the corner of Meron Street and Ferry Road, was previously expected to have four towers, but has been scaled back to three. They are:
● The Regal Residences;
● Monarch Place: a 54-level “twister” tower that will front the Ferry Rd side of the site.
● The Imperial Tower, an 108-level building that will become Australia’s tallest, beating out Surfers Paradise’s Q1.
Mayor Tom Tate said the development aligned perfectly with his “upwards rather the outwards” approach to future development on the Gold Coast.
“The only way is up for the sustainable future of our city,” he said. “We must plan for higher density along our key public transport corridors,” he said.
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“By building up, not out, means people can live where they want to, access public transport at their door and still enjoy the lifestyle and primary attractions that bring people to the coast — our beaches and open space.”
More than 53 apartments, with a total value of $22.5 million, were sold in the Regal tower over the festive season.
Another 15 units were reserved for prospective buyers. Interstate buyers made up half of the sales.
Originally published as Gold Coast development: Construction begins on $2.3B Imperial Square supertower project
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