MAYOR Tom Tate has dubbed 2014 the “year of the crane” for the Gold Coast, with development approvals showing significant increases.
“A traditional indicator of a city’s economic activity and health is the number of cranes on its horizon,” said Cr Tate.
“We know that there are more than nine cranes around the city, signalling the Gold Coast is well and truly open for business.”
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The number of multi-unit development approvals on the Gold Coast has almost doubled in the past two years.
In 2011, there were 18 multi-unit approvals; in 2012, there were 12; while in 2013, 30 multi-unit developments were approved.
The number of units based on these approvals equates to 567 units for 2011, 229 for 2012 and 1199 for 2013.
In 2012, the City approved 4501 development applications* compared with 5442 in 2013 (calendar year) which represents a 20 per cent increase.
On Friday, Cr Tate visited one of the city’s operational cranes at the Brighton Grand residential development in Southport and met its representatives, Adam Reinisch and Sol Sahhar.
The $50 million project, designed by Hamilton Hayes Henderson Architects, is a three-building residential complex with a total of 28 luxury apartments.
Mr Reinisch said he had fielded plenty of enquiries from potential buyers and felt confident about the Gold Coast market.
“I think people are choosing the Gold Coast because they like the environment and the convenience – especially in Southport, with the light rail almost here,” he said.
“Southport is a place that’s definitely on the go.”
Cr Tate also announced the inaugural Gold Coast CBD office had just opened its doors.
“This office, directly above Cr Crichlow’s office in Nerang Street, is staffed by CoGC officers who are ready to field enquiries from any developers or investors wanting to know about Southport,” he said.
Councillor Dawn Crichlow said the opening of the office signalled an exciting time for Southport.
“With the Chinatown development underway, Stage Three of the Broadwater Parklands and the 2018 Gold Coast Commonwealth Games approaching, Southport is going to be a thriving location,” she said.
“Anyone with any kind of business interest in Southport is welcome to make an appointment to learn more.”
Southport was declared a Priority Development Area by the State Government in October.
Some of the other major developments approved or underway include:
– Sundale Tower and Apartments – 55 storeys and shops, Southport – $400 million
– Markwell Ave Tower – 40 storey apartment block, Surfers Paradise – $50 million
– Seachange residential development at Carrara, 130 residences – $70 million
– Sanbano Tower, Southport, 51 storeys – $100 million
– Pacific Fair Broadbeach – major redevelopment – $670 million
– Cypress Central, Carrara, 1000 dwellings – $370 million
– Jewel highrise complex, Surfers Paradise – $900 million
– Gold Coast International Marine Precinct, Coomera – $390 million
– Pearls Australasia EdgeWater Project, Varsity Lakes – $75 million
*Development applications includes material change of use, reconfiguration of a lot, operational works, environmental management plans, survey plans and miscellaneous.