Rainbow Bay’s pot of gold
THE superlatives are starting to flow over a project planned on what literally is a superlative site overlooking Rainbow Bay at Coolangatta.
The project is planned by developer Paul Gedoun, who is paying north of $12 million for a 1012 sqm site on the corner of Marine Pde and Petrie St.
The land is earmarked for a high-specification 12-floor tower with 22 apartments and with a $10 million-plus twolevel penthouse.
Prices for the few two-bedroom apartments will start at $1.1 million and whole-floor units at least $6 million.
Mr Gedoun, an avid surfer, is overseas doing some snow surfing, but his tower plans are on the front foot.
Potential buyers who include former world surfing champion Mark Richards, who is selling his unit on the site to Mr Gedoun, are being asked to register their interest.
The request comes via a website that says: “The calling of the ocean waves, the pristine coastal landscape and a community of kindred spirits, all intrinsically fuse”.
The upshot of this “fusion” – the Gedoun tower – is to be called Flow, or for those who want a bit of distinction, Flow Residences.
The design plans to create calm, clarity and balance.
“This is where the tide timelessly blends the ebb and flow of the ocean and a way of life.”
The fellow who sold the site to Mr Gedoun, GV Property’s Antonio Mercuri, has been given the job of lining up the buyers in tandem with the man who will be selling the apartments, KM Sales and Marketing’s Jayde Pezet.