A Gold Coast real estate agent has proposed an alternative location for the A$3-billion Gold Coast Integrated Resort, which according to latest plans will be built on the Southport Spit by China-backed investor group ASF Consortium.
Speaking to local media, Peter Bonenti, a real estate agent and Gold Coast resident, said that the casino resort’s developer could face multiple challenges in relation to its current site. Mr. Bonenti pointed out that building the necessary infrastructure to the property could cost hundreds of millions of dollars. What is more, building structures higher than three floors is currently prohibited on the Spit, which means that ASF Consortium will have to be granted special permission in order to be able to build up to five towers as part of its integrated resort plan.
According to Mr. Bonenti, the developer will actually spare itself money and efforts, if it changes the preferred location for the multi-billion-dollar complex to the Broadwater Tourist Park, just across the water from the Southport Spit.
The real estate agent has pointed out that the new site is located not far from a key state route and that if the property is built there, it being connected to existing infrastructure will be less costly and painstaking.
The proposed new site is an 8.2-hectare one and is half-owned by the city council, with the other half to be leased from the Queensland government.
The proposal for a new location has gained some support, including from Southport councilor Dawn Crichlow. According to Ms. Crichlow, a new site, not far from the original, could appease opponents of the project and could help the developer avoid challenges of different nature.
Local media reported that ASF Consortium has not welcomed the proposal. It seems that the investor group is not willing to give up on its latest plan and to move the proposed location for its integrated resort for a fourth time.
The developer expressed development interest in Queensland years ago. It first intended to build a A$7-billion-plus integrated resort with a cruise ship terminal on Wavebreak Island. However, environmental groups criticized the project heavily and ASF Consortium had little else left but to scrap it completely.
Doug Jennings Park was the second location eyed by the Chinese-backed group of investors, but the Queensland government ruled out development opportunities there. The developer most recently selected a site next to the Sea World marina park and the Palazzo Versace hotel on the Southport Spit.
According to ASF Consortium officials, this last location offers excellent opportunities for the development of exciting precinct that will annually attract millions of tourists to Gold Coast and Queensland as a whole.
The investor group is yet to receive final approval from the Queensland government before being able to proceed with construction. A public consultation period in relation to the project concluded on Friday and state officials are now to sort out the information collected and determine whether the massive project is what Gold Coast and the region needs.
