Gold Coast tram system drives $6B development boom
THE Gold Coast is riding the golden rail, with a $6 billion building boom tracking alongside the trams.
The construction zone will be along a narrow 8km corridor, with Broadbeach leading the way accounting for $4 billion of projects and the rest split between Surfers Paradise and Southport.
Powering this investment in tourism accommodation and residential super towers is the light rail, say key stakeholders.
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Planning documents provided exclusively to the Bulletin show the Broadbeach skyline could potentially boast up to 23 cranes.
At least four projects, including the Pacific Fair renovation and a new tower at Jupiters Casino and Hotel, will provide a guaranteed $1 billion economic boost from their construction.
Broadbeach-based city councillor Paul Taylor estimates the area will undergo a $4 billion makeover in the lead-up to the 2018 Commonwealth Games.
“There is easily around $3 billion to $4 billion worth of projects going on here right now,” Cr Taylor said.
“We’re building a city, and this is one of the engine rooms. “These investments in my division are on a big scale.”
See more of the original Gold Coast Bulletin article HERE
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