Gold Coast real estate is set to receive a boost after plans have arisen to build a $50 million high rise in Southport.
Investor Robert Boylan told the Gold Coast Bulletin that he wants to bring together a group of other investors to build the 96 apartment complex on the corners of Scarborough and Windmill streets.
Mr Boylan bought the site in 2007 with the intention to build a retirement tower but currently has shops, offices and houses on the land.
His grand plan will see nearly 100 apartments with two penthouses while on the ground level, there will be retail space.
The development could get off the ground by 2014 with 300 jobs created as a result.
It comes as the Gold Coast City Council's city planning committee has endorsed a 41 storey apartment building in Surfers Paradise.
It will contain 223 apartments with 177 parking spaces, and on the ground there will be two cafes and a public forecourt area.
Cameron Caldwell, the committee chairperson, said that this project will reinvigorate the area.
He commented: "At ground level, this development will create an attractive forecourt area and provide the public with better connections to surrounding streets and parkland.
"It has been designed to ensure the amenity of the beach and adjoining open space is preserved."