Despite recent statements that pointed towards Brookfield Multiplex assisting the financially troubled Raptis Group in the completion of their two-tower Hilton Hotel and Residences project in central Surfers Paradise, a final agreement is yet to be reached.

One major hurdle at present is around A$2 million worth of infrastructure charges which Raptis and Multiplex representatives are negotiating the deferral of with the Gold Coast City Council.  There are some concerns however, that if deferred (or exempted completely) the charges could be extracted from apartment owners in the future, a situation that some councillors want to avoid.  There are also concerns that leniency in this matter will set a precedent for future developments.

The $2m is slated for public art, a tourist information centre, streetscaping and public security cameras.

Tags: GCCC, gold coast, news, Ongoing Development, property, Raptis Group, real estate, Surfers Paradise, Surfers Paradise Hilton

This entry was posted on Tuesday, November 11th, 2008 at 1:03 pm and is filed under GCCC, Ongoing Development, Raptis Group, Surfers Paradise, Surfers Paradise Hilton. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.