ASF says Wavebreak Island could be home to 20,000 people once resort and terminal completed

WAVEBREAK Island will have a population of up to 20,000 people under ASF Consortium’s plans to develop the Broadwater.

WAVEBREAK Island would have a population of up to 20,000 people under ASF Consortium’s plans to develop the Broadwater.

The $7.5 billion project’s future remains in limbo but consortium bosses are pushing ahead with selling the development as “the Gold Coast’s newest suburb”.

While economic data released last year predicted 6700 residents would live on the island, local project director Tim Poole said that number would be three times higher.

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“We are not sure if those will all be permanent residents but there will be about 7000 apartments, so if everyone is there we might have around 14,000-15,000 people on the ­island,” Mr Poole said of the development, due for completion in 2025.

Updated artist impressions of ASF consortium’s plans for the Wavebreak Island cruise ship terminal.

“With 15,000 people on the island plus another 5000 in the integrated resort we might have population of 20,000 so we are certainly treating this as a new suburb for the Gold Coast.

“This idea of an international residential community is a new concept and our challenge is to make sure it is ­socially, commercially and environmentally sustainable.”

Mr Poole, speaking yesterday at an Institute of Business Leaders breakfast, said the residential precinct of the 90ha ­island would be targeted at the lucrative Asian market, as well as local buyers.

“An idea which is attractive to the Asian market is having their children living in Australia and studying at Griffith or Bond University,” he said.

Artist impressions of ASF consortium’s plans for the Wavebreak Island cruise ship terminal, an area likely to be considered a Gold Coast suburb.

“If they have a property or apartment as an investment property it can be used by their children for living and study.”

An announcement on the fate of the project will be made following the January 31 state election and the consortium says it expects to have an answer by April.

If approved, formal public consultation on environmental issues will be held later this year.

The State Government continues to assess a detailed masterplan provided by ASF last October to determine whether to award a must-win casino licence.

Updated artists impressions of ASF consortiums plans for the Wavebreak Island cruise ship terminal showing the density of buildings.

While the casino is considered essential to the project’s viability, Mr Poole yesterday emphasised the development, which included a cruise ship terminal and integrated resort, would have more than 100 further attractions for tourists.

He also confirmed parkland on Wavebreak Island would not be the responsibility of the Gold Coast City Council.