Construction of the proposed A$3-billion Gold Coast Integrated Resort is set to begin next April, right after the Gold Coast 2018 Commonwealth Games. However, developer ASF Consortium cannot commence work on the ambitious project before receiving the necessary regulatory approval from the Queensland government.
A new report compiled by property market researcher MacroPlan Dimasi shows that the new casino resort will generate around A$710 million for the state every year, once fully operational. Apart from the financial boost, the expensive complex is also expected to annually draw 2.1 million overnight visits. Developers have recently announced that the resort could generate over 13,000 construction and permanent jobs, if given the green light by the government.
The Gold Coast Integrated Resort plan rose from the ashes of a previously scrapped project for the construction of an integrated resort and a cruise ship terminal on the Wavebreak Island. Estimated at A$7-billion, that initial project met staunch opposition from environmentalists mainly due to its cruise ship terminal portion.
The group of China-backed investors announced last year a new plan for the development of an integrated casino resort on the Southern Spit in Gold Coast, Queensland. The new project is set to occupy a 5-hectare site that represents less than 3% of the whole Spit.
The developer has promised to provide a traffic solution for the issues that may arise from the resort’s construction and to fund key infrastructure in the region.
Although lacking in a cruise ship terminal and being promoted as an environment-friendly endeavor, the plan was still criticized by environmentalists and other opposing groups. There is an ongoing public consultation period, during which residents and officials from the area can voice their opinion on what they expect from the resort. The Queensland government is set to make up its mind once consultation is closed, possibly in mid-2017.
If an approval is granted, the Gold Coast will see its largest development for years now taking form on the Spit. Masterplanned by Queensland architects Jayson Blight and Michael Rayner, the Gold Coast Integrated Resort will feature three five- and six-star hotels, a casino with a wide variety of gambling options, residential area, luxury retail area, multiple food and beverage options, meeting and convention space, and numerous attractions and entertainment options.