Australia’s tallest: Massive tower to transform region
CONSTRUCTION of a $2.3 billion project the developer says would include the Australia's tallest residential tower is to begin in October, giving a huge boost to the Gold Coast's post-COVID economy.
The four-tower Imperial Square complex, with a 108-storey supertower at its heart, is planned to transform a central Southport site and create more than 3000 jobs during its construction phase alone.
Despite tough economic times, veteran developer Robert Badalotti says that after years of planning, the time is right to launch the first "shovel-ready" project following the easing of COVID-19 restrictions.
On top of 3000 construction jobs, Mr Badalotti said the complex would create a further 2600 full-time jobs once completed.
"This has been a long time coming and I believe the market is ready," he told the Bulletin yesterday.
"We have been paying close attention to the market and there are now a lot of people who are downsizing and this is something we want to penetrate and this development will have the facilities and price points to match that.
"I am not joking around with this project. We are here to make it successful and I hope the community of the Gold Coast will come in and support an empire for all.
"You just need one project to kickstart Southport and we are making the first move. Others will follow and the more the merrier, I say."
Mr Badalotti said he would fund the first stage himself, while partners might be brought in for future towers.
Detailed plans of Imperial Square will be revealed publicly this morning by his Azzura Group, when the project is officially launched to the market.
To be built in four stages, it will include:
* The 18-level Regal Residences, which will have 145 apartments including two rooftop penthouses, and a four and a half star hotel with 200 suites.
* The 48-level Monarch Place.
* The 68-level Imperial Tower.
* The Majesty, a 108-level supertower which will become one of the Australia's tallest towers.
The completed development, planned for a 1.34ha Meron Street site currently home to the Mercato on Ferry complex, will contain 1600 dwellings and more than 40,000 sqm of commercial and retail space.
The Regal Residences will be built first with an anticipated construction period of 15 months, followed immediately by construction of the Monarch Place.
The site for the first tower has been cleared for construction
As part of the sales pitch, a fully furnished mock-up of a two-bedroom, two-bathroom unit has been built to allow prospective buyers to see first-hand what the luxury tower will offer.
Two-bedroom units will sell from $349,000 and Azzura Group says it has already received several offers since erecting billboards for the project in the past week.
Mr Badalotti first proposed the project six years ago this week and gained preliminary approval from the Gold Coast City Council in 2018.
"What we will be delivering at Imperial Square will set a new era for Southport and a new benchmark for quality," he said.
"The project has been meticulously designed over numerous years and will respond to emerging growth, infrastructure and employment opportunities in the region.
"The potential of Southport is only now starting to be realised and with conditions primed for growth, we see ourselves on the ground floor of an incredible journey ahead."
Originally published as World's tallest: Massive tower to transform Coast suburb