Melbourne-based developer Optimus Developments has kicked off construction on its $65 million luxury residential development in Broadbeach on the Gold Coast.
The 22-storey tower, designed by Woods Bagot, will offer 22 apartments at 31 Broadbeach Boulevard within close proximity to Pacific Fair and the Star Casino.
The groundbreaking ceremony comes after Optimus lodged revised plans for the Broadbeach apartment project late last year.
Optimus chief executive Andrew Karpati said no expense had been spared on the residential development.
“(The project) brings to the Gold Coast an unprecedented level of residential living boasting half and full-floor apartments, as well as a two-level penthouse,” Karpati said.
The penthouse, which is understood to be priced above the $3 million mark, will feature four-bedrooms, four-bathrooms and a private pool.
More than 300 jobs are expected to be created over the duration of the building process, led by McNab Construction, which is scheduled for delivery in early 2020.
“This is going to be a fantastic project that solidifies the local construction industry through the employment of hundreds of Gold Coasters,” Karpati said.
Half-floor two-bedroom, two-bathroom apartments are planned to span 135sq m in size with prices starting from $1.33 million, while the full-floor 280sq m residences will offer three bedrooms, three bathrooms, starting from $3.05 million.
Nearby, a major $2 billion masterplan on Broadbeach Island is underway by Destination Gold Coast, a joint venture between Star Entertainment Group, Far East Consortium and Chow Tai Fook Enterprises.
Other recent Gold Coast Development projects include Marquee Development Partners’ $35 million apartment project on Chevron Island which will deliver 61 apartments.
Western Australian developer Pindan launched its first Gold Coast project in nearby Mermaid Beach.
The $110 million residential tower will deliver 94 apartments and stand 25-storeys high.