56-Story Luxury Apartment Tower Planned for Australia

Central Equity plans to develop a 56-story luxury apartment tower, Pacific One, at Garfield Terrace, Northcliffe, Australia, which will be the first tower for the company outside Melbourne, The Urban Developer reports. Central Equity has acquired 19 property titles since approximately 2015 to amalgamate and create the 3,259-m² block. Brisbane-based architectural firm Marchese Partners has been engaged to design the 486-apartment tower at Northcliffe, which would include 302 apartments and 184 serviced apartments. The property will be officially launched later this year, with construction due to commence in mid-2022. Central Equity co-founder and chairman Eddie Kutner said the Gold Coast was ripe for transformation: “We can see the city is really coming of age and it’s not just going to be one or two good years, so we’re establishing ourselves as a permanent operation on the Gold Coast.”