Luxury $130m Coolangatta Esprit towers approved by council
Construction of a giant $130m residential “wellness” complex in the heart of Coolangatta will be fast-tracked after getting the green tick from council.
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CONSTRUCTION of a $130m residential “wellness” complex in the heart of Coolangatta will be fast-tracked after getting the green tick from the Gold Coast City Council.
Workers will move in on the 2424sq m site on the corner of Coolangatta’s Boundary and Ward streets in 2022 to begin work on the Esprit development. It will consist of two interconnected buildings of eight and 12 storeys, respectively.
More than 80 per cent of the units were sold before the council this week approved the development. It had been opposed by a vocal group of southern Gold Coast residents.
A significant number of buyers in the towers came from Covid-afflicted Sydney’s beachside suburbs and inner city as well as Melbourne’s outer suburbs.
It is the third of four projects planned for the southern Gold Coast by S & S projects, headed by developer Paul Gedoun.
“We’re thrilled to be bringing a third collection of high-end residences to what is arguably one of the most idyllic coastal villages on the Gold Coast,” he said.
“We witnessed our first two projects in Rainbow Bay instigate a barrage of buyer interest, and now we have the opportunity to welcome a new wave of residents to a development that blends natural amenity with lifestyle enhancement.”
Mr Gedoun said many of the buyers were interested in the project’s centrepiece, a residents-only wellness hub called Club Esprit that will be the first rooftop feature of its kind on the Gold Coast.
Esprit will replace a series of low-rise houses and restaurants, including popular burger shop Beloporto Rainbow Bay.
Mr Gedoun is behind the under-construction Flow Residences and Awaken Residences as well as the controversial redevelopment of Palm Beach’s The Collective, which was unveiled this week.
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