QUEENSLAND developer Resort Corp today started work on its $500 million Saltwater project that is set to revitalise the Townsville waterfront.
The company commenced subdivision earthworks on the resort, residential and retail precinct being constructed on a 4.6ha site adjacent to the Jupiter’s hotel and convention centre.
Saltwater will be created over five stages, stage one will initially comprise 100 boutique resort-style apartments with a further 73 associated north-east facing waterfront residential apartments.
The 4.6ha Saltwater Townsville precinct comprises five individual sites within measuring 3639sqm; 4657sqm; 5769sqm; 6242sqm; and 8964 sq m respectively.
Stages two through five will incorporate premium north and northeast facing apartments, serviced apartments, an AAA grade luxury apartment tower plus waterfront dining and retail opportunities.
Resort Corp Joint Managing Director, Mr Peter Madrers said the firm was excited to get the project underway.
“We wanted to kick-start construction on the project as soon as possible so that we could begin to showcase a truly great waterfront development,” he said.
“The development industry in North Queensland is booming because of the strength of the resources sector and the realisation from southern buyers of the amazing waterfront lifestyle that is available in the region.
“Resort Corp intends to move quickly to take advantage of the current demand for quality projects within North Queensland.”
Mr Madrers said the Saltwater project would be a great boost to the development of Townsville’s waterfront.
“The project will feature a variety of boutique apartments as well as a dining and retail strip that will really enhance the beauty of Townsville.” he said.
The $60 million property was bought last year from Don O’Rorke’s Consolidated Properties.
Saltwater will be designed by acclaimed and internationally-renowned architects, Cox Rayner. Cox Rayner was appointed due to its vast experience in waterfront, commercial and residential projects including the Docklands in Melbourne and Darling Harbour in Sydney.
Resort Corp is creating a $1.5 billion plus suite of stunning projects on Australia’s eastern seaboard stretching from northern New South Wales to the Gold Coast; to Noosa and north to the Capricorn Coast; Mackay; the Whitsundays, Townsville and Cairns.
Since 2001, it has completed five resort and residential apartment projects on the New Tweed Coast; five apartment projects in metropolitan Brisbane; and a landmark apartment project on the Currumbin beachfront on the Gold Coast.
It will this year embark on the $210 million Noosa Sanctuary residential resort in Noosa; a $500 million eco-resort and residential community at Funnel Bay on the Whitsunday Coast; and the $135 million Santai Airlie resort in the Airlie Beach township, also in the Whitsundays.
It recently announced a $1 billion roll-out of Balinese-inspired, Santai-branded resorts over the next 10 years throughout Australia’s eastern and western seaboards and in the Pacific Islands; and, its first greenfield commercial development site on the Gold Coast - a 2.89ha Burleigh Heads development site.