Veteran Gold Coast developer Norm Rix turns to high-rise project because of land shortage
A veteran developer says he is ready to do something he’s never tried before in his 60-year career – but not all of the Gold Coast is happy. JOIN THE CONVERSATION
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VETERAN developer Norm Rix says he is so exasperated at the lack of land being unlocked for development on the Gold Coast that he will turn to building high-rise towers for the first time in his 60-year career.
Mr Rix, whose projects have included Pimpama City and Ashmore City shopping centres as well as residential subdivisions, said the housing shortage affecting both renters and home buyers was becoming “critical” across the Gold Coast.
“We have got people coming here to the Gold Coast and housing prices are booming. I’ve never seen a market like this before and I’ve been in real estate and development for 60 years.”
That stance sparked a flurry of replies from Bulletin readers.
“Developers and Council are destroying the Gold Coast..... Just look at the monstrosities going up in Palm Beach,” Marni said.
Andrew add: “The NSW planning system prioritizes political expediency over efficient land use, but it is very expensive - perhaps the reason why so many migrate here (just a shame they don’t leave their anti-development attitude at the border).”
Jordan wrote: “This city is built on migration, seems a bit rich from all the comments to blame developers for simply building what people want. If there wasn’t the demand they wouldn’t build.”
READ ALL THE COMMENTS BELOW
Mr Rix said more land needed to be released, particularly around the cane fields in the northern corridor, so supply issues could be addressed and people could get into the market.
It comes as a state government taskforce is expected to investigate transforming the Gold Coast’s northern cane fields into towns to help ease pressure on crowded established suburbs.
“The housing situation is down to several reasons,” Mr Rix said. “One is interest rates are low … there are incentives by the federal government for first-home buyers and so on.
“But the big thing is there is a limited amount of land available to develop so it’s not a competitive market.
“If we could only get more land to develop we could then create a situation where it is going to be competitive.”
Mr Rix said he supported developing part of the cane fields to the north of the Gold Coast rather than the area in its entirety as it would set a precedent for future development.
“What you have got to do there is just develop … the southern end of the cane fields along Jacobs Well Rd. There are areas there that are good, high-developable land.
“If they, for instance, zoned any of it … to residential to allow a guy like me to buy in there … that would open the door for other rural land in that area (to be rezoned).”
Mr Rix said the land situation was so dire he was looking at stepping away from residential subdivisions into another sector.
“I’ve never done a high-rise building and I’ve often said that. I want to continue to develop so the only thing I can do now is two high-rise buildings because there’s no land for me to buy.”
CBRE Gold Coast managing director Mark Witheriff said the greatest issue in unlocking land in Southport was the Priority Development Area designation.
He said the PDA encouraged foreign developers to landbank sites and put forward plans for projects that would never be developed.
He said the market needed boutique apartment buildings rather than high-rise projects.
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