HIGH HOPES
$1.3 BILLION TOWERS GET COUNCIL TICK
THE approval of a 103-storey tower in Surfers Paradise is a signal the Gold Coast economy is firing, according to a planning expert.
The $1.3 billion Orion Towers were given the thumbs up by the Gold Coast City Council’s City Planning Committee yesterday.
During construction the project will create 1700 jobs, contribute $540 million to the economy and an additional $20 million each year once it is completed.
The 1127-unit project will include two towers – one 76 storeys to be dwarfed by its 103-storey partner – making it the tallest building in the Southern Hemisphere.
To be built on Surfers Paradise Blvd between Enderley and Markwell avenues, the CRA Group project will include a 680sq m penthouse on level 100 and a signature restaurant on level 101.
The towers will also include 1176 parking spaces, 578 bicycle spaces, five pools and a private club.
Urban Development Institute of Australia Queensland president Stephen Harrison said even having developers apply for such large-scale development was a good indicator for the Gold Coast.
“We have had projects of this size and nature and it was when the market was going quite well,” he said.
“There is a lot of positivity going on with the Commonwealth Games.”
CRA Group development manager Chris Alston said the project would be a major investment after next year’s Games.
“It will also help ease the lack of supply of Surfers Paradise product in the apartment and hotel market, and while built to the highest level of luxury standards, it will still be value buying compared to the Sydney market.”
Tower parking was contentious, with council officers recommending more than 200 spaces be removed to reduce the size of the 22m-high podium.
Planning committee chairman Cameron Caldwell said the development was an “absolutely outstanding addition to the Surfers Paradise skyline”.
Cr Caldwell argued the parking spaces were needed in the area and moved to have the condition removed from the approval.
Surfers Paradise councillor Gary Baildon disagreed and said the massive podium would destroy the area.
He said the impact of the podium would be detrimental to the area as a whole.
Cr Baildon was the only councillor to vote against approving the project without reducing the parking.
The development will go to the full council for approval on Tuesday.