Brisbane-headquartered developer Azure has secured Gold Coast City Council development approval for a $115 million residential project in Southport on what is described as the final residential development site within the Parklands Priority Development Area's Lumina precinct.
The 114-terrace-home development is earmarked for a 1.7ha site at 1 Clarke Street which was acquired from Economic Development Queensland (EDQ) in October last year.
While the site had existing development approval for 878 units and ground-floor retail across four buildings, Azure lodged its development application in January this year and received approval to replace the high-density scheme with a terraced housing community designed by Plus Studio.
The project sits within the Gold Coast Health and Knowledge Precinct, a master-planned area adjacent to Griffith University and Gold Coast University Hospital that EDQ has been progressively releasing for development.
“It’s a fantastic milestone for us to receive the green light on our second Gold Coast project,” says Trent Keirnan, founder of Azure.
“The Gold Coast continues to evolve, with demand for considered, high-quality residences at an all-time high. This project has been thoughtfully shaped to respond to that demand.
“We’ve worked closely with Economic Development Queensland to bring this project forward, and the collaboration has been both proactive and highly considered. Their shared commitment to quality housing outcomes has enabled a streamlined approvals process and a strong result for the precinct.”
Azure says it made a strategic decision to "maximise liveability" on the site by choosing to deliver a medium-density development rather than a high-rise, providing an alternative living option to the current projects in the Gold Coast market.
The Azure project is targeting a wide demographic with a range of two- and three-storey designs comprising a collection of three-bedroom terrace homes as well as one- and two-bedroom apartment-style residences.
The residential offering will support the Health and Knowledge Precinct, which also includes the new RDX Lumina and Proxima Towers, which are home to a range of health, education and research tenancies, including a 200-place childcare centre.
The development is the second for Azure on the Gold Coast after the company completed the Dawn Edition, a 54-terrace-home project at Helensvale within Villawood Properties' The Surrounds master plan in 2022.
Azure is aiming for an off-market release for the Southport project in the third quarter of this year, at the same time as construction is anticipated to start.
The Southport approval adds to a growing pipeline for Azure, which is targeting $1.3 billion in total sales across its development portfolio.
The developer has also begun construction on a $189 million gated community at Rothwell in Brisbane's Moreton Bay region, comprising 240 terrace homes.
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