Hope Island on developer radar with $500m in new projects

The next stage in Hope Island’s renaissance is well underway with both local and multi-national companies in various stages of development for more than $500 million in new residential projects.A new town centre, a 400-room hotel within the prestigious Hope Island Resort, a luxury over-50s waterfront community and a range of home and apartment projects are set to continue the precinct’s evolution which started more than 30 years ago with the creation of Sanctuary Cove.“The development activity either in the planning process or currently underway in Hope Island is astonishing,” says Christopher Jones, Associate Director McGrath Projects South-East Queensland.“In addition to the enormous array of projects currently underway we are seeing multi-national companies focusing on Hope Island in scenes that we haven’t seen since the creation of Sanctuary Cove and Hope Island Resort.“They realise that Hope Island will be one of the most desirable prestige locations of the northern Gold Coast corridor moving forward.“They also realise that the opportunities to develop product with such extensive infrastructure already in place – such as three world class golf courses within two world class resorts – is limited.”Projects underway include the $60 million Vision by Halcyon over 50s community, boutique land offering Aqua North, the $266 million Cova masterplanned community by Australand, the listed Sunland Group’s $18 million The Quays townhouse project and the $50 million North Point land estate.In addition, Hong Kong-based Golden Horse Group has signalled plans for a 400-room hotel and 23 luxury homes after acquiring the major shareholding of Links Hope Island golf community last year.Malaysia-based Sime Darby, owner of the established Oyster Cove community, will complete the final stage of the project to be known as Serenity Shores, which will include townhouse, apartment, house and land product as well as a hotel and commercial village. Richope Pty Ltd, associated with development identity Rick Sheida, has appointed McGrath Projects to market its $100 million Anchorage Apartments, comprising 228 waterfront units.Gold Coast City Council Division 3 Councillor and City Planning Chair Cameron Caldwell said Hope Island was offering a variety of housing product to suit various markets and price points.He said there were more options for first-home buyers, families and downsizers.“There is a diverse range of product catering to a wide buyer demographic, including well-priced land waterfront and dry lots, house and land packages, townhouses and premium over 50’s living,” he said.“The array of product now reaching the market will help Hope Island become a more complete community that caters to a variety of lifestyles and life stages.”Halcyon joint managing director Bevan Geissmann said the recent opening of childcare centre Kids Academy, as well as existing services Mater Health Centre and Arcare Aged Care near the Halcyon Waters over 50’s community, had bolstered Hope Island’s educational and health facilities.“Hope Island was once seen as a cluster of gated estates, but with the suburb’s growth has come the emergence of a real community,” Dr Geissmann said.“Health and education facilities are the cornerstone of any thriving suburb and Hope Island is now well established in this regard.”