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    $1.5bn mega project with four-tower plan

    $1.5bn mega project with four-tower plan


    THE biggest individual mega development in Mermaid Beach’s history will begin construction within 12 months as its builder pushes ahead with the project.

    Aniko Group on Friday lodged plans with the Gold Coast City Council for a $1.5bn four-tower project. It is earmarked for a 1.134ha site on the corner of the Gold Coast Hwy and Seaside Ave next to Pacific Fair Shopping Centre, straddling Mermaid and Broadbeach.

    The project, first revealed in September by the Bulletin. has been revamped and refined and will feature four towers of 25, 30, 40 and 53 levels containing nearly 1000 units, plus 10,000sq m of commercial office space.

    Aniko Group boss George Mastrocostas said he planned to begin construction on the first stage – the 30-storey tower – before Christmas 2023.

    “The inclusion of a commercial component to the project will create a local hub for a range of businesses and services located within walking distance to accessible public transport.” he said.

    “Pending council approvals, we plan to launch the first stage in late 2023 and we are expecting to welcome our first residents by 2025.

    “We believe the proposed plan will provide a unique and highly curated experience for both residents and workers of the development and the local community beyond.”

    Mr Mastrocostas said the development would be built in four stages during a six-year period before completion by 2030, in time for the 2032 Olympic Games. The Gold Coast is co-hosting with Brisbane and other parts of south-east Queensland.

    The proiect is the latest twist in the long history of stalled attempts to develop the prime site during the past two decades.

    The Mermaid Beach project is the latest by the Southport-based Aniko, which has rapidly become one of the Gold Coast’s best- known developers in the past five years.

    Excerpt only. Continue reading at Gold Coast Bulletin

    Written by Andrew Potts. Originally published by Gold Coast Bulletin
    DECEMBER, 2022

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