By George, it’s good
DEVELOPER George Mastrocostas is setting out to redefine his career, starting with a tower intended to put everyone from first-home buyers to retirees within reach of a life overlooking the Broadwater.
Mr Mastrocostas is going solo, under the Aniko name, in the wake of his partnership in the Emandar group winding down. Aniko is due to start work on a 14-level project, Three 72, at Labrador.
The 108 apartments in the tower, at 372-374 Marine Pde, will range in price from $344,000 to $649,000.
“Something that will cost $400,000 at Three 72 might cost $800,000 at Broadbeach,” he said. “It’s a big difference for the sake of a 15minute drive.”
Mr Mastrocostas has started Aniko as he and Emandar group partner Evan Raptis are on the verge of finishing their final project, the sold-out three-tower, 374apartment South Lakes at Varsity Lakes.
“I want to develop projects that are a step on from Emandar – projects that include things that really will make a difference to people’s lives,” Mr Mastrocostas said.
“I also want to bring price points down and make apartments such as those in Three 72 accessible to everyone.”
The developer said Three 72 would benefit from his Emandar learning curve and from his desire to give his ventures a community feel.
That feel would come from the inclusion, in addition to a pool and gym, of things such as a library, Zen garden, pet-wash station, and outdoor cinema.
Three 72, designed by Aniko in tandem with the Archidiom group, will have a glassed lobby and glassed residents’ lounge on a mezzanine floor that will have views of both the Broadwater and a park on the western side of the tower.
The apartments will range from 70sq m for a one-bedroom unit on level three to 160sq m for a three-bedroom apartment with a study on the top floor.
There will be three basement levels, with all apartments having either one of two car parks.
The 1576sq m site, bought for $3.85 million, came with approval for 55 apartments.
Approval was subsequently lifted to 108 units.