Approval has been granted for the construction of a tower complex expected to provide more than 1,000 Surfers Paradise homes.
Key points:
- Gold Coast City Council unanimously approved the development
- It will include three towers, the tallest of which will be 80 storeys
- A councillor estimated it to be a $1.5 billion investment in the city
The Cypress project was proposed by billionaire Harry Triguboff's Meriton group and was given the green light by Gold Coast City Council's planning committee.
The three towers will be 54, 73 and 80 storeys tall and are set to include 1,321 apartments for long and short-term use, according to planning documents.
There is no height limit in the area, as is the case with a significant portion of the Surfers Paradise coastal strip.
Meriton recently completed a 76-storey beachfront high-rise called Ocean directly across the road and is about to start construction on a separate, $1-billion development 500 metres to the north.
That project, called Iconica, will include two towers, 78-storeys and 53-storeys tall.
All of the developments are expected to rival Australia's tallest building, Q1, which is also in Surfers Paradise.
It is 77 storeys high and measures 322m, including its spire.
Cypress is expected to take over nine blocks close to the beach that are presently being used as a car park and mini golf course.
The plans say the development will also include shops and a childcare centre on the sixth floor.
"I would hate to know what the actual figures in this [are], but I'm going to guess that this is probably somewhere in the proximity of a $1.5 to $1.8b investment," council's planning chair Mark Hammel said.
'Perfect location'
The developer's documents say the project aligns with the Queensland government's regional plan to support higher density projects and make urban corridors "more compact, mixed-use, connected and active".
Cr Hammel said the city's light rail was on the project's doorstep.
"This is directly out front of a light rail stop and is the perfect location for this kind of density and this kind of use to be occurring," he said.
"Not only a light rail stop directly out front, but also high-frequency bus services directly opposite as well.
"We know this particular developer does deliver … so it will see 1,000 new dwellings added to our supply in the city, which is a huge outcome."
He said empty blocks of the size planned for the proposed development were rare.
"We do not have too many 8,000-square-meter developable blocks in the city," Cr Hammel said.
"To see nine blocks amalgamated together to allow a highly efficient use of that land … is a massive investment for the Gold Coast."
Filling empty blocks
Surfers Paradise area councillor Darren Taylor said lots in the northern end of the suburb had been without residential buildings for years.
"There's a lot of these blocks that have been empty for a long period of time that [are] been screaming to be activated," he said.
Cr Taylor said the childcare centre was important.
"We need to ensure that we've got childcare centres for residents throughout Surfers Paradise and [being able to] walk to a childcare facility is really important," he said.
Deputy Mayor Donna Gates said the development would help to ease the housing crisis.
"I just want it to be noted that their investment doesn't go unnoticed and will help us to meet our requirements in regard to housing supply," she said.
The Gold Coast City Council's website says the development application was first lodged in April.
Councillors joked about moving an amendment thanking Mr Triguboff towards the end of the discussion about the project.
"I'm confident that Cr Gates's words and my words and that of the committee will be passed on to Harry, I'm sure," Cr Hammel said.