The Gold Coast City Council has granted development approval (DA) to Immerse Projects’ second apartment project in the border suburb of Coolangatta, with construction set to start next year for the 17-level apartment building on 39 McLean Street.
The green light represents another milestone for Immerse’s developer-builder founder John Kearney as he steps up his interests in the southern Gold Coast property market.
Immerse Projects is currently progressing construction of its project Rhythm Kirra Hill adjacent to the McLean Street site, via Kearney’s construction arm Greyburn Building Contractors. A third project in the region is also planned over the border in the Tweed Shire.
“We are very pleased with today’s approval of the McLean Street project which is the result of a lot of collaborative work with Council over past 18 months,” says Kearney.
“This allows us to focus on delivering and finishing construction on our adjacent site being Rhythm Kirra Hill and look forward to moving our teams onto this site towards the end of next year along with a DA submission of another site in Tweed.
“McLean Street, like Rhythm, will cater to that missing middle market where buyers are looking for quality coastal residences with resort-style facilities but without the premium price point.”
The McLean Street development will deliver 58 new apartments comprising a mix of two- and three-bedroom designs, with the project to be topped by a 240sqm penthouse.
Immerse Projects reduced the height of the project from 19 levels following negotiations with the Council over the past 18 months. The site is located within the Coolangatta Centre District which offers higher density allowances under the Gold Coast City Council Town Plan.
The approval adds to several other developments in the pipeline for the area, including the $100 million luxury Rockpool Rainbow Bay project, the redevelopment of Greenmount Resort, and a fourth project in Rainbow Bay for Gold Coast developer S&S Projects.
Article source: www.businessnewsaustralia.com