First look: Ground to break on giant $400m supertower
THE Star will today announce that construction of a 63-storey supertower will begin within a month, injecting more than $400 million and 2300 jobs into the Gold Coast economy.
The unnamed "tower 2" will feature the fourth hotel to be built on Broadbeach Island and nearly 460 residential units.
The first sod will be turned in late February and work is expected to be completed by mid to late 2024.
The Star CEO Matt Bekier said the decision to immediately proceed with the tower more than a year ahead of schedule was a "a massive vote of confidence in the Gold Coast and Queensland tourism more broadly".
"Despite the challenges of the past year we remain focused on developing the world's finest tourism and entertainment destinations," he said.
"The Star Gold Coast will soon have two new towers under construction.
"That means thousands of jobs as we extend our offering to four hotels, new restaurant, cafe and bar precincts, world-class resort amenities, pools, a day spa and other tourist attractions.
"This will be a destination of which the Gold Coast can be proud, with a variety of price points from the easily affordable to the ultimate in luxury."
Mr Bekier said he was "looking beyond COVID-19" to the opportunities that exist to "drive southeast Queensland as the go-to location for intrastate and interstate visitors and long-term to the return of international tourists".
The State Government approved Star's $2 billion masterplan in 2018. It allows for up to seven towers.
The 54-storey Dorsett is under construction and will open in late 2022, following the existing Star Grand and Darling towers.
The project is welcome news for the tens of thousands of tradies who were last year forced to find work outside of the Gold Coast after a downturn in building applications.
The Star is negotiating for the mixed-use tower to be home to an "internationally recognised" five-star hotel brand.
The 210 hotel rooms will sit on the lower levels of the tower while the residential component, known as The Star Residences, will be on the upper floors.
More than 70 per cent of the one, two, and three-bedroom apartments have been sold since pre-sales began in May 2019.
Prices range from $596,000 to about $1.8 million.
The building will have a six-level podium featuring an "active" retail concourse and more than 12,050sq m of retail and resort facilities including a luxurious day spa, wellness centre, restaurants and lifestyle services.
The giant sundeck will also have a large lagoon pool, private cabanas and dining areas.
Premier Annastacia Palaszczuk said business confidence remained strong on the Gold Coast.
"Construction of new infrastructure is absolutely vital to our economic recovery and to jobs growth on the Coast," she said.
"Thanks to the way Gold Coasters have responded to this pandemic, we have been able to work with the private sector to ensure projects are able to continue.
"The local economy is reliant on a strong tourism industry and we know operators have done it extremely tough over the last 18 months.
"We will continue to work with council, Destination Gold Coast and major employers like Star to rebuild this industry in the future."
Global construction company Multiplex has been awarded the contact.
Originally published as First look: Ground to break on giant $400m supertower