The larger of the two, a 1.1 hectare 23-parcel property near Pacific Fair in Mermaid Beach was amalgamated at a cost of approximately $20m over the past five years.  Originally slated for the proposed Broadbeach Lifestyle Centre, incoroporating four towers and a mixture of residential and commerical space, the site is positioned well to take advantage of the future Rapid Transit link.

The other site, located on the Esplanade in northern Surfers Paradise is slated for a luxury 23-storey residential building.  ‘North Point’, set on nearly 1000sqm of land was to incorporate 20 3 bedroom apartments, plus a palatial penthouse.

Howard Group have cited a strengthening market as the reason for the sales, feeling that they stand a better chance of realising the value they have added to the sites at this stage.

The development, to be built adjacent to Pacific Fair, would consist of residential, commercial, retail and possibly even industrial compenents.  There are 132 apartments planned, as well as a medical centre within the 6 towers, which will range from 4 to 20 storeys in height.

At over 17,000sqm in size, the site will be on the Rapid Transport route and is being viewed by a number of local councillors as a major step in the revitalisation of this area of the Gold Coast.  The development coincides with a $300m upgrade of Pacific Fair Shopping Centre.

With Council approval expected shortly, construction on the first stage could begin as soon as the first quarter of 2009.