Monaco Lifts Covers on Luxury Plans for Miami Site

In the shadow of the Gold Coast’s Magic Mountain, developers Jonathan Grasso and Jay McPhee have pulled not one but two rabbits out of the hat in the past week. After revealing a $70-million acquisition—one of the city’s biggest deals for a beachfront property for some time—the duo’s Monaco Property Group has swiftly raised the curtain on its luxury vision for the Miami site. It has lodged plans for a high-end residential development with a U-shaped design by Koichi Takada Architects in collaboration with BDA Architecture. The sprawling five-storey scheme plus private rooftop terraces would comprise 46 two, three and five-bedroom apartments encompassing a centrepiece communal “landscaped haven” with ocean views. Its built form is described as having “sweeping curved edges wrapping in a U-shape inside the northern, western and southern side boundaries”. “This project embraces the Miami context of lush landscape, open architecture, beachfront living and active lifestyle,” a design statement said. “The building has been positioned so as to open out to the ocean and yet blend with the mountain behind.” Touted as heralding a new era along the Miami beachfront, it will replace a two-storey 1970s-built holiday resort, formerly known as Nobby’s Outlook, on the 7284sq m holding at 122 Marine Parade. The site is bordered by an 80m frontage to Marine Parade to the east and Nobby Hill—also known as Magic Mountain for a long-gone amusement park that once adorned it—to the west. Monaco Property Group secured the site from Melbourne-based Moose Toys boss Paul Solomon, who purchased the property in 2017 for $23.75 million, subsequently refurbishing and renaming it Nalu. The proposed development gives a nod to its low-rise predecessor by adopting its name—a word meaning “wave” in Hawaiian. ▲ Renderings of Monaco Property Group’s proposed residential development for 122 Marine Parade at Miami. A submitted planning report noted that although Marine Parade largely had a three-storey height limit, there were already several existing buildings that ranged from four to nine storeys. “The character of Marine Parade is mixed and best described as representing a transitional phase as older traditional dwellings and unit buildings are making way for more contemporary built form incorporating a mix of substantial detached dwellings and multiple dwelling buildings of varying heights and scale,” it said. Under the plans before the Gold Coast City Council, a mix of seven apartments with two and three bedrooms would be accommodated on the ground level wrapping around the central communal landscaped courtyard featuring swimming pools, cabanas, sheltered seating nooks and walkways. Indoor communal recreational spaces also would be provided on the same level, including a residents lounge, gym, yoga-pilates space, spa and wellness facilities. Each of levels 2 and 3 would comprise 12 three-bedroom units, above which 10 three and five-bedroom apartments would sit on level 4. Topping the development on level 5 would be five penthouses—two with three bedrooms and three with five bedrooms. ▲ The proposed U-shaped scheme comprising 46 apartments encompasses a centrepiece communal “landscaped haven”. As well, private roof terraces are to be incorporated for 11 of the apartments, each with outdoor dining and lounge facilities, swimming pools and spas with adjoining sun terraces and landscaped seating areas. Overall, the apartment layouts would range from 231sq m to more than 1000sq m—all with access to 2000sq m of communal recreation and wellness space. Parking would be provided across one basement level with 137 resident and 8 visitor car spaces. “This is a once-in-a-lifetime opportunity to craft something truly special,” Monaco Property Group’s Jonathon Grasso said. “We’re creating more than just residences—we’re building a lasting legacy that respects the past while ushering the site into a new era of considered, luxurious coastal living.” Grasso and Monaco Property co-founder Jay McPhee both plan to reside at the new development. Pending approval, construction is slated to commence early next year and completion is expected by late 2028.

Monaco Lifts Covers on Luxury Plans for Miami Site

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