Melbourne developer Beckdev recently announced plans for a 22-storey tower in Coolangatta after purchasing the site earlier this year.
Named “Palais”, the $130-million tower will comprise 175 apartments and seeks to capitalise on insatiable buyer demand on the Gold Coast.
In this TUD Plus Briefing, BeckDev director Ben Beck talks through the project, why they targeted the southern Gold Coast and the boom-to-bust nature of the city’s markets.
Beck said he had been coming to the Gold Coast for 40 years and was well aware of its cyclical nature, but believed that was set to change.
“I think there might be a bit of a flattening,” he said.
“With the crazy investment from interstate developers and also things like the Olympics coming up, we might flatten that cycle and see an improvement in the Gold Coast, which, not only for residents but also visitors, is much needed.”
Beck said the southern Gold Coast had been particularly attractive to them as somewhere new.
“Developers have had a crack at Southport, Surfers Paradise and Broadbeach, and many have done a pretty horrible job, to be honest,” he said.
“So, we wanted to go to somewhere a bit untouched and provide a quality development that really fits with our values as a developer.
“That sort of potential … we always look for the next thing if you like, and we’ve proven that across the history of the family development, and Coolangatta has got so many things going for it.”
Article Source: www.theurbandeveloper.com
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