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First stage launch for $2.3bn Gold Coast precinct

Gold Coast developer Azzura has announced that construction will commence later this year on the first stage of its ambitious $2.3 billion Imperial Square project. This transformative precinct proposes a series of awe-inspiring skyscrapers, including Australia’s tallest residential tower, a soaring 108-storey masterpiece.

The initial phase, Regal Residences, has already captured attention, with the launch of sales for 145 luxury apartments housed in an impressive 18-storey building. Located at 58-73 Meron Street in the vibrant Gold Coast suburb of Southport, Regal Residences will not only offer luxurious living spaces but also include a 200-room 4.5-star hotel and two exclusive rooftop penthouses.

The meticulously planned Imperial Square precinct encompasses three additional towers: Monarch Place, spanning 48 levels; Imperial Tower, soaring 68 storeys; and The Majesty, an iconic 108-level residential tower that will become Australia’s tallest of its kind.

In total, Azzura envisions constructing 1,600 dwellings and 40,000 square meters of office and retail space across all stages. The visionary design for the precinct has been entrusted to Kris Kowalski Architects, a renowned architectural firm based in Brisbane.

The commencement of the first stage is expected to create approximately 400 job opportunities, with the potential for up to 6,000 positions to be generated if the entire precinct is realized. Azzura’s chief executive, Robert Badalotti, emphasizes the strategic approach the developer will adopt for the staged development, ensuring adaptability to prevailing market conditions.

Imperial Square contributes to the burgeoning development pipeline in Southport, with recent research by Urbis revealing nearly $300 million worth of projects planned, under construction, or completed in the past year.

“The true potential of Southport is only beginning to be realized, and with favorable conditions for growth, we consider ourselves to be at the forefront of an incredible journey ahead,” remarks Mr. Badalotti.

The Imperial Square project marks a significant milestone in Southport’s transformation, presenting an unprecedented opportunity for growth and economic development. As Azzura propels the ambitious precinct forward, it seeks to redefine the skyline and elevate Southport to new heights of prosperity and prominence.