Queensland Premier Annastacia Palaszczuk has spent the morning at The Star Gold Coast, where she officially turned the sod on a new $400 million, 63-storey tower at Broadbeach.
Construction has now begun on The Star Entertainment Group’s new hotel and residential tower, which is tipped to create 1800 jobs during construction and 500 jobs once up and running.
“Construction is absolutely vital to rebuilding our economy and creating local jobs on the Gold Coast,” the Premier told reporters on Friday.
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“We approved the masterplan for The Star Gold Coast because we know how important it is to partner with the private sector to deliver new tourism infrastructure in this city.
“To have construction starting on multi-million-dollar developments like this just proves that business confidence on the Coast is strong. This is only possible thanks to the way Queenslanders have responded to the coronavirus pandemic.
The new building, dubbed the “tower for tourism”, will be the fourth hotel to be built on Broadbeach Island.
Environment Minister and Member for Gaven Meaghan Scanlon was also on hand for the sod turning and said new tourism infrastructure was crucial to ensuring the Gold Coast remained one of the most sought-after destinations in the country.
“Our tourism and construction industries are cornerstones of the local economy here on the Coast,” she said.
“This project won’t only deliver a shot-in-the-arm for our construction sector, it helps to ensure our tourism offering remains world-class.”
The new tower is expected to be complete by late 2024, with 70 per cent of the one, two, and three-bedroom apartments already sold since pre-sales began in May 2019.
Prices range from $596,000 to around $1.8 million.