Lacey Group to launch first apartment project Bodhi at Upper Mount Gravatt

Gold Coast developer Adam Lacey has looked to the Brisbane suburb of Upper Mount Gravatt for his first solo project, the $36 million Bodhi Apartments.

The development will feature 78 one, two and three bedroom apartments across eight levels on the corner site.

Designed by RealSpace Creative in association with architects BDA, the building's name, Bodhi, came from a Sanskrit word that traditionally translates into English as 'enlightenment'.

Construction is expected to commence mid 2017.

Bodhi is the first of three new projects to be rolled out over the next 12 months by Lacey, who has established his own property company, Lacey Group.

He had previously spent seven year as co-director of Onyx Property Group.

Lacey said he was expecting interest from both owner-occupiers and investors.

"Bodhi is designed to suit those looking to downsize from large family homes in surrounding suburbs like Sunnybank, together with young professionals wanting a lifestyle location outside of the hustle and bustle of the CBD," he said.

"The position in the core Upper Mount Gravatt redevelopment precinct is also likely to appeal to investors wanting to capitalise on the future growth earmarked for the suburb."

The recent $400 million revamp of Westfield Garden City has rejuvenated the area with new cafes, restaurants and shopping in the suburb's centre.