Palm Beach apartment pipeline continues to grow after COVID boom
After a quiet spell following the post-COVID boom, Palm Beach is starting to fire up once again.
The latest plans have come from local Brent Freeman, who is planning a 23-apartment project at 1199 Gold Coast Highway.
The development has been duubed Saltwater, due to its proximity to the beach - less than 100 metres from the sand. There will be 13 two-bed apartments and 10 three-beds across the nine-level building, which Raunik Design created to embrace subtropical coastal design that is reflective of the surrounding Palm Beach area.
There will be a pool, gym, and spa, as well as a yoga room, on the first level.
The town planning report by UPS suggested the proposal will facilitate an increase in residential density that rejuvenates the site in an appropriate urban environment benefitted by ease of access to a range of community and social infrastructure and the nearby Palm Beach District Centre.
GV Property Group put together the 817 sqm site on the corner of Gold Coast Highway and Thirteenth Avenue, amalgamating three lots.
Palm Beach was one of the most in demand pockets in the Gold Coast when COVID hit. But those projects that were in market around the time were quickly snapped up, and there's been little stock in the last 12 months.
There's been a few developments submitted, the most recent by the luxury home builders turned multi-residential apartment developers GRAYA.
They've submitted plans for Ripple, a boutique nine-level project of just 19 apartments dubbed Ripple, on a prime site at 2 Palm Beach Avenue. It's their first project on the Gold Coast.
Earlier this year the international property developer Changfa lodged plans for a 21-level tower at 1134 Gold Coast Highway, just up the road from Saltwater.
The building, designed by Plus Architecture, will have 113 apartments, a mix of one, two and three-bedroom units.
Also on the Highway is Paul Spina's next project, 41 apartments on a 1,237 sqm site at 1409-1411 Gold Coast Highway - between 23rd Avenue and 25th Avenue.
Recently Rob Steer's Steer Developments launched his first Palm Beach development, COTE Palm Beach.
The $45 million project at 3 Thirteenth Ave, on the corner of Thirteenth Ave and the dress circle Jefferson Lane, will see 17 half-floor apartments built, each with three bedrooms, three bathrooms, and two parking spaces.
Also recently launched is Seaclusion, a more affordable offering of 40 apartments which have been snapped up by local owner-occupiers.
Seaclusion, located at 4 Twenty First Avenue, will rise on a 1,200 sqm site that has been held by the Dorr family for three generations. It's already 60 per cent sold.