Sydney developer Allera is moving into the NSW North Coast to develop a 24-apartment two-building project at Kingscliff.
Allera acquired a 1446sq m site at 140 Marine Parade in November of 2021, which had been held by a family for more than 60 years.
It then negotiated to acquire the adjoining site at 142 Marine Parade to create a consolidated block of 2192sq m with a 35m frontage to Marine Parade and unobstructed ocean views.
Tweed Valley Council approved the two 4-storey apartment blocks, Marine and Pearl, this month, which would comprise predominantly three-bedroom configurations.
Allera director David Mann said Kingscliff was coming of age with a strong growth projected.
“Our initial acquisition was not only based upon the unique locational aspects of the property but the underlying fundamentals and growth opportunities that Kingscliff and the broader region presented,” Mann said.
“The successful negotiation and subsequent purchase of 142 Marine Parade then provided the opportunity to create a signature development.”
Tweed Mayor Chris Cherry said the approval of the project would pave the way for greater housing diversity in the area.
The Clare Hopkins Clarke-designed project has been targeted at downsizers and owner-occupiers.
Allera director Zach Morrison said half the apartments had sold off the plan to local downsizers and people moving from the more populous Gold Coast and Byron regions.
Kingscliff is close to the Gold Coast airport and the $723-million Tweed Valley Hospital, which is due to open in May next year.
The design of the $60-million Marine and Pearl project “expresses a modern beachside feeling and coastal lifestyle with open plan living and ocean views”.
