The top residential construction projects underway on the Gold Coast now
The Gold Coast is a hive of construction activity as the city benefits from a booming housing market. Here are some of the biggest projects underway right now.
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TOP GOLD COAST PROJECTS (IN NO PARTICULAR ORDER)
SKYRIDGE - WORONGARY - PERRON GROUP AND ROSS ATKINS
Earthworks began on the $1.5 billion development in Worongary in February with sales expected to start in June. Formally known as Pacific View Estate, the project is a joint venture between Perron Group and Gold Coast investor. It is expected to deliver up to 3500 dwellings over a 15-year period.
STAR GOLD COAST MASTERPLAN - BROADBEACH
The casino operator last month kicked off the next stage of its $2 billion masterplan for Broadbeach Island with the sod turning ceremony for the 63-storey tower 2.
The $400 million project, expected to create 1800 construction jobs during the project and 500 once open, follows constructioin of the 54-storey Dorsett hotel tower, due to open in late 2022.
The new project will feature 460 apartments upon completion, which is anticipated to be mid-to-late 2024.
BELA - MOSAIC PROPERTY GROUP - MERMAID BEACH
The Bela tower is the first of Mosaic’s two projects on Peerless Ave in Mermaid Beach. The 26-level project, featuring 115 luxury two- and three-bedroom apartments, is worth $128 million and is sold out. Construction is due for completion by mid-2021.
ENCORE - ANDREWS PROJECTS - BROADBEACH
The 25-level Encore tower in Broadbeach will become the largest development completed to date by Andrews Projects when it is finished in late April/early May.
The building contains 84 units with remaining two- and three-bedroom apartments priced from $660,000.
SIGNATURE - LITTLE PROJECTS - BROADBEACH
The Signature tower is the first project on the Gold Coast for Melbourne-based rich-lister turned developer Paul Little.
The $210 million, 245-unit luxury tower is one of the biggest under construction on the Coast.
Construction on the 35-storey building is expected to be completed in the first half of 2022.
FLOW RESIDENCES - LUXE - RAINBOW BAY
Ground broke in early December on this $74 million project which proved to be a surprise sales hit in 2020.
The first sod was turned less than a month after the southern Gold Coast tower sold out in a COVID-inspired spending spree.
The tower is expected to open in March 2022.
NATURA - SPYRE GROUP - BURLEIGH HEADS
Construction work began in late 2020 on the new $77 million Burleigh Heads tower Natura which also proved a major sales success despite the pandemic.
More than $50 million worth of units were sold in a single weekend in early March.
About 70 per cent of those who bought into the 17-storey project off the plan were downsizers from the Gold Coast region.
The tower is earmarked for a 1011sq m site on The Esplanade and will replace the now-demolished Aspect on Burleigh, a 13-year-old mid-rise launched by Mimi MacPherson.
JEWEL - AW HOLDINGS - SURFERS PARADISE
Construction of Jewel began in 2015 and has yet to be completed following repeated construction delays and ownership changes.
This year may finally see an end to the project.
The first tower has been finished with a small number of settlements taking place while the renovations for tower two and three are ongoing.
Jewel’s towers measure 36, 43 and 49 storeys with a 169-room hotel and 521 separate apartments. Prices have ranged from $4 million for three-bedroom units to entry prices from $675,000 to $799,000.
CAPITAL COURT - HOMECORP - VARSITY LAKES
Veteran developer Ron Bakir is undertaking his $200m build-to-rent Capital Court project in Varsity Lakes with funder Morgan Stanley.
The CEO of Homecorp Property Group will launch expressions-of-interest for his Capital Court build-to-rent (BTR) project in the next few weeks.
Construction has kicked off on the first two of four towers delivering 450 units on the site.
THE LANES RESIDENCES - SUNLAND - MERMAID WATERS
Sunland’s first two buildings in the $1.3 billion project The Lanes are due to be completed in the middle of this year.
Each of the buildings will have between 70 and 80 apartments, with a mixture of one-, two- and three-bedroom luxury units and penthouses.,
Apartments in the first stage of The Lanes Residences, known as the “East Village’’ are priced from $475,000 to $1.825 million.
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