’Homely’ highrise takes modest turn
THE ambitions of the brothers Li appear to have been well and truly tempered by a dose of Chevron Island reality. Nearly four years ago it was revealed that Baron and Tony, the sons of Chinese billionaire Riyu Li, were planning a Chevron apartment tower.
The debut project, a “homely” building for permanent residents, was intended to establish their Macroland operation as a new and unique brand in the city.
The tower was to be 22 levels and the brothers brought in award-winning Sydney firm Francis-Jones Morehen Thorp to design it.
A development application was lodged but a year later it was withdrawn.
Now the brothers are back with a new model – a building that could be called “one for the times”.
It’s intended to be only nine levels and to have 75 units – the aborted tower was to have 113, plus three streetfront townhouses.
The Li decision to scale back appears to reflect the failure of other developers with Chevron ambitions to actually start construction on what would be the island’s first highrise.
In fact, only one tower out of eight approved for the island has been marketed – Chevron One, planned by Melbourne’s Benson Property group.
By contrast, more modest projects are working on Chevron, as Brisbane’s Marquee group has found with a building simply called Stanhill.
It is a mere nine levels, has
sold very quickly, and construction is roaring ahead.
The canned Li brothers’ tower was to occupy a 2170sq m site on the corner of Stanhill Drive and Parnoo St that is home to units and houses and was bought for $3.9 million.
The tower’s “homely” features were to include entrance halls in all apartments and, in the majority of homes, separate kitchens rather than kitchens that were part of the living areas.
The building was to have three levels of basement.
Not so with the new plan for the Macroland site, with parking in a two-storey aboveground podium and no costly basements.
The Li brothers, this time around, haven’t gone to Sydney to hire an architect but have used the busy Mermaid Beach-based BDA group.
The inspiration for the design has apparently been drawn from the art deco movement in Florida’s Miami.
The Li brothers, who were educated in Sydney and gained degrees there, bought 30-year-old former timeshare tower Surfers Royale for $22.37 million in 2015. They’ve continued to offer holiday rentals in the beachfront Northcliffe Tce building.
Baron and Tony’s Macroland companies also have played a role in the Li family assembling a holding of more than 300ha in the Tallebudgera Valley.
Dad Riyu is planning a “wellness and tourism gardens” venture on part of the land, a project that would include a boutique hotel.
Riyu, who initiated beachfront project Jewel, has a stake in an entity which several weeks ago paid $56.5 million for the Spirit supertower site in Surfers Paradise.