CARRARA: A $120 million multigenerational residential project for Palm Meadows will be the first cab off the rank as the long-awaited city plan comes into effect.
A development application will be submitted to the Gold Coast City Council this morning for the 325-unit Eleve residential project at the Palm Meadows golf course precinct in Carrara.
It has been put forward by developer Hungtat Worldwide, a company associated with Macau gaming tycoon Stanley Ho.
Earmarked for land Dr Ho has held for 20 years, the project will be rolled out over five stages and feature about 700 bedrooms.
Dr Ho was the developer behind Broadbeach’s Wave high-rise and decided to fast-track Eleve to coincide with the new city plan.
Lawyer and spokesman for Dr Ho, Tony Hickey said construction could begin within three months if approved by the council.
“The city plan recognises a need for more multigenerational residential accommodation and this has created the confidence for this investment,” Mr Hickey said…