ANOTHER 500 JOBS ON THE WAY FOR BUILDING INDUSTRY
16 April 2014,
THE recovering Gold Coast property is poised to absorb another 500 jobs as Singapore developer Ho Bee Land announces the appointment of Brookfield Multiplex to build a $120 million residential tower in Surfers Paradise.
Earthworks have already begun on the 41-storey development, which is the first residential high rise to be constructed in Surfers Paradise in two years.The as yet unnamed building, located on the former Red Rooster site on the corner of Surfers Paradise Boulevard and Main Beach Parade along the light rail route, will comprise 223 apartments with a rooftop garden and retail space.
Brookfield Multiplex, the company that developed the Hilton Surfers Paradise, says about 500 jobs will be generated during construction and that 230 workers will be on site during the peak of activities.Brookfield Multiplex regional managing director for Queensland, Rod McDonald, has talked up the economic benefits of the project which he says will help meet a rising demand for residential property on the Gold Coast.
“Queensland’s residential market is gaining pace and it’s fantastic to be back on the Gold Coast and delivering this project which will see cranes returned to the Surfers Paradise skyline for the first time in two years,” McDonald says.“Ho Bee Land’s unique building will revitalise the Gold Coast’s residential property market by providing new, high quality apartments that meet the highest standards of sustainability and design.
“Brookfield Multiplex has a long and successful track record on the coast, having delivered a number of new major residential and commercial developments over recent years, including the Hilton Surfers Paradise, the Wave at Broadbeach, the Gold Coast Convention and Exhibition Centre, and Pivotal Point Tower at Southport.“We look forward to working with Ho Bee Land and the project architect, DBI Design, as well as local stakeholders and the community, as we deliver this building.”
Earth works began on site late last year with construction expected to be completed in late 2015.Brookfield Multiplex has been highly active in the Queensland market in recent years.
The company is currently working on the 1 William Street project in Brisbane’s CBD and the $325 million Indooroopilly Shopping Centre redevelopment.Ho Bee also has another major development site on the Gold Coast, located along the Gold Coast Highway near Pacific Fair. It has yet to announce plans for that site.