Sunland Group will announce plans to transform a key site on the Gold Coast, into a $136 million residential development at Palm Beach.
The mid-rise development will see 162 apartments over six towers around nine-storeys high, a central park and an additional 86 houses on small lots.
Sunland bought the the former Palm Beach Mobile and Tourist Park for $18.4 million.
Sunland Group Managing Director Sabha Abedian told The Australian that the site presented a rare opportunity to create a master planned community in Palm Beach.
“The site really speaks to the renewal and the gentrification of the southern end of the Gold Coast,” Mr Abedian said.
“When you think about areas such as Coolangatta and Burleigh, there is a vibrancy we are seeing developing in unique lifestyle and retail precincts in those areas.”
Construction is expected to begin early next year.