Gold Coast development: Ground breaks on Multi-tower residential retirement community planned for former Hope Island ‘theme park’

A Gold Coast tower mega development planned for the former site of a “theme park” is under construction and is set to transform the city’s north.

THE first sod has been turned on a “five-star vertical retirement village” in the Gold Coast’s north.

Work has begun on Reside Communities’ Esperance Hope Island village after the developer reported a significant spike in unit sales.

Construction has begun on Esperance Hope Island.

All of the $1 million-dollar plus penthouses and sub-penthouses in the first building, named Esprit, have already sold.

Reside Communities CEO Glen Brown said many of the units had been snapped up by downsizers.

“Esperance is a groundbreaking project in all aspects of its design as well as the luxury and lifestyle it offers, which is attracting a huge amount of interest,” he said.

Reside Communities CEO Glen Brown at the launch of Esperance Hope Island, Wednesday, April 28, 2021 - Picture: Richard Walker/RDW Photography

The project is being built on the former site of the failed Hope Island Village Square marketplace.

Its first stage will feature 76 apartments ranging from two-to three bedrooms with prices starting from $550,000.

Esperance will ultimately deliver around 300 units and villas with more than a hectare of green space alongside 1 prime water frontage.

The project's penthouses have already sold out.

Future plans include dedicated aged care living options and ground floor retail spaces.

The Sickle Ave project was approved by the Gold Coast City Council in 2019.

It is just the latest in a series of successes on the Coast property market despite the COVID-19 downturn.

Developer Aniko Group have already fast-tracked construction of the next stage of its No. 1 Grant Ave complex on a neighbouring Sickle Ave site.

Construction of the first stage is expected to be completed by Christmas 2021. Stage two of the 105-unit project is also being aimed at downsizers and the owner-occupier market

Artist impression of the proposed Esperance Hope Island

Artist impression of the proposed Esperance Hope Island

Renders of Esperance at Hope Island.

Originally published as Gold Coast development: Ground breaks on Multi-tower residential retirement community planned for former Hope Island ‘theme park’