The first new high-rise tower planned for Runaway Bay in nearly 30 years will be built on a waterfront site overlooking the Broadwater.
The 34-storey, $100m Belvue tower, inspired by US resort town Palm Springs, is being pitched as a joint venture by developers Monaco Property Group and Polites Property Group.
A development application for the Bayview St project was lodged with the Gold Coast City Council this week.
It will be the first residential complex to be built since the first crop of high-rises, such as the Broadwater and Bayview towers, went up in the late 1980s and early 1990s.
Polites Property Group CEO Alex Polites said Runaway Bay was long overdue for a facelift.
“Runaway Bay’s development history dates back to the 1970s and it set the benchmark for residential apartment living on the Gold Coast in the 1980s and 1990s,” he said.
“But since then, the Gold Coast has evolved into a sophisticated city envied not just as a holiday destination but for its coastal lifestyle. Now, finally, the time has come for the reinvigoration of Runaway Bay as one of the Gold Coast’s premier waterfront residential addresses.”
The “resort-style” tower will have 31 units, each 323sq m, and three detached villas on the 3115sq m site. Each unit will have either three or four-bedrooms.