Developer Urban Construct has announced its plans for a $150 million waterfront apartment project at the Gold Coast's residential community, Emerald Lakes.
The Harbour at Emerald Lakes, has now received development approval and will be launched to the market in the coming weeks.
The Harbour is the second residential project to be launched by Urban Construct within the $1 billion dollar master planned community in Carrara, following the release of the final stages of The Islands project in June 2014.
The Harbour is a joint venture between the Urban Construct Group and Nifsan and will comprise 316 apartments across four buildings, which will be released in two stages.
Urban Construct Managing Director Todd Brown said the sales success at The Islands to date highlighted the strong appeal of the Emerald Lakes community and with growing activity in the local market, it was the ideal time to launch an apartment project like The Harbour.
"We are excited to announce that The Harbour project is going ahead and we are confident that the product mix will be well received by prospective purchasers," he said.
"Apartments in stage one will be selling from $299,990, which is an incredibly competitive price for luxury waterside living.
"There isn't a great deal of waterfront property currently being developed on the Gold Coast, particularly at an achievable price point. The Harbour's position overlooking the lake is unparalleled - it is the prime position within Emerald Lakes."The Harbour is being developed on a 2.45 hectare parcel of land within the Emerald Lakes community, with waterfront views that can never be built out.
Mr Brown says he expects the lifestyle, position and price point will be particularly attractive for first home buyers, empty nesters, and investors.
"Emerald Lakes has strong owner occupier appeal, and while we expect the majority of apartments to be snapped up by those looking to either buy their first property or secure a home in an area they wish to retire, we do expect a lot of interest from investors," he said.
"With prices escalating rapidly in the southern states, Queensland has become very appealing to the investor, and we are confident that demand for quality product on the central Gold Coast will continue to grow for the foreseeable future."
