Cairns real estate: Gasparin triple tower plan for Cairns still alive after six years, developer says
A developer proposing to build three skyscrapers up to 24 stories in Cairns has made a promising move which shows the project still has life. Read his plans.
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ADELAIDE-BASED investor and developer Frank Gasparin has signalled a behemoth city project first flagged six years ago is not on the scrap heap.
He has applied for an extension of time for the C3 tower development at the corner of Sheridan St and Kenny St to 2029.
Cairns Regional Council first approved the project in 2016.
It comprised a 796-unit complex, including one 24-storey tower and two 23-level towers, with a mix of residential and holiday accommodation as well as office and shopping spaces.
The C3 towers approval came with much fanfare six years ago, with reports that construction would start in 2017 for what would be the tallest buildings in the city, reaching 72m above ground level.
The approval was due to lapse in July 2023.
“With the worst of the Covid pandemic seemingly past, the applicant is seeking certainty with respect to this approval in order to actively pursue this project,” the document states.
“Given the size and complexity of the project, a six-year extension is being sought.”
Federal MP for Leichhardt Warren Entsch suggested three years ago that the site could be purchased and put to use as a stadium site.
Mr Entsch said this week while the site would have been ideal because Convention Centre facilities could have been used during stadium events, he believed Cairns Regional Council was on the right track with its Barlow Park stadium plan.
Mr Gasparin also has a 60 per cent interest in a $170m development called Half Moon Bay on a 19.58ha site at Trinity Park.
Victorian-based developer Villawood Properties recently bought a 40 per cent stake in the project from the company Ausecurities.
The proposal encompasses 1700 resort-style units, a retirement complex and 300-room six-star resort and promotional material was released for it in 2019.
Mr Gasparin acknowledged at the time that Cairns had suffered from big projects that never came to fruition.
He said at the time the Yorkeys development hinged on the Global Tourism Hub that was mooted to go alongside the casino, but which is very much dead in the water.
In February, Mr Gasparin and co-owners put a landmark commercial property at the corner of Spence St and Abbott St on the market.
It is owned by Mr Gasparin, Peter Strangman, Mark Biancotti and Evert Fine Jewellery owners Mary and Joe Mohun.
Mr Gasparin owns the DFS Galleria building across the road.
He has been lobbying Cairns Regional Council to embark on a $2.5m “Rodeo Drive” style upgrade of the area.
Mr Gasparin has long held interests in Cairns and developed the City View Estate at Mooroobool.
Mr Gasparin was contacted for comment.
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Originally published as Cairns real estate: Gasparin triple tower plan for Cairns still alive after six years, developer says
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