DEVELOPMENT NEWS
Gold Coast ramps up investment in infrastructure and developments At the recent 80 TWENTY Hotel conference in the Gold Coast, Nick McGuire, Manager City Economy, City of Gold Coast spoke passionately about the amount of investment and developments happening in the city. He declared, “it’s an exciting time for the accommodation sector.” The council recently announced a $55 million boost to the city’s economy, in areas including marine, film, television, tourism, and small business. The sector is sure to benefit from the investment in the Gold Coast Light Rail and Gold Coast Wonder Reef, alongside the expansion of the arts centre and theatre, plus new works in Cavill Avenue. Mayor Tom Tate said: “We know that money invested by council in these key sectors attracts significant returns through greater local employment, more tourists and greater marketing exposure as well as increased investment in key industries such as film, marine, health and sport. “Key programs and entities to be funded in 2022-23 include: Destination GC - $16.5 million; Major Events GC - $11.97 million; and Study Gold Coast - $3 million,” he said. “The recent success of block-buster films for our city reinforces that we are on the right track when it comes to support for our film and television industry. This year (202223) we will invest $2.9 million towards both the film industry and sports sector, in a bid to attract more film productions as well as sporting events and sports training camps.’’
in infrastructure and of course the upcoming 2032 Olympics. Iconic Surfers Paradise is overdue for renewal, but he says the destination encompasses all the fundamentals to be great once again. He added that having now lived on the Gold Coast for some time, he recognises what a great lifestyle it offers.
SPG Land’s Paradiso Place development This is a joint venture with Australian developer Gordon Corp, its innovative design aims to reshape the block in the heart of the tourism precinct by “creating an urban oasis with an upmarket neighbourhood village vibe designed to become a beacon for local, interstate, and international visitors”. The three-tower development will include a new groundlevel retail and dining plaza, accompanied by extensive open public spaces, as the cornerstone of an inclusive residential lifestyle hub for the local community. The plaza has been designed to activate the northern end of Surfers Paradise by offering a true destination experience featuring signature retailers and food and beverage operators. The premium residential towers will each have their own identity while offering residents unparalleled bespoke amenities. The focal point for residents will be a unique circular infinity lagoon pool on the podium level which will host the signature communal space for the development.
More exciting news came from hotel data analyst experts STR, when Paul Hammond, Business Development Manager Pacific revealed the extent of investment in the Gold Coast accommodation sector with well over 600 hotel rooms expected to open in 2022. Will Hoc Nhan, Chief S&M Officer from SPG Land also told 80 TWENTY delegates why the major Hong Kong-based developer chose the Gold Coast for the location of its planned $880-million, 800-apartment triple-tower, Paradiso Place which is being developed on Ferny Avenue in Surfers Paradise. He revealed that the city attracted the attention of SPG Land because it is evolving at a remarkable rate in terms of population growth and popularity, with a high level of recent investment
Each tower will have its own podium level interconnected by walkways to create a unique elevated ‘seaside village’ for residents, with each tower podium offering separate resort amenities. The towers also boast their own dedicated sky lounges occupying the entire 26th level, each with customised amenities. Penthouse owners will have the added exclusivity of access to their own private rooftop gardens and recreation areas. SPG Land chairman David Wang described the proposed Surfers Paradise development as a flagship project for the company that will create a sought-after destination in the city’s traditional tourism heart. Tower 1 will be the first to be built, offering 258 well-appointed one, two and three-bedroom apartments, all with ocean views, forecast for late 2024 completion.
The Star Residences – Pool
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The Star Residences – Casual Dining Space
DEVELOPMENTS
ResortNews | July 2022
