Monaco Property Group wins DA approval for Runaway Bay’s first residential tower in decades

Developer Monaco Property Group has received the green light for their Runaway Bay apartment development Belvue Broadwater - the first residential tower to be built in the Gold Coast suburb in over 30 years.

Set on the water’s edge, fronting Southport Broadwater, the $130 million “skinny” tower comprises 31 full-floor apartments and just three detached tri-level villas designed by award-winning Plus Architecture.

“This is blue chip real estate,” said Andrew Erwin, Director of NPA Projects, marketing agent of the project. “The land has been tightly held for 50 years, and it offers arguably one of the longest view lines on the Gold Coast.”

Jonathan Grasso, Director of Monaco Property Group, speaks on his enthusiasm for the DA approval. “It’s an exciting start to 2023 gaining development approval,” he remarked.

The DA was initially knocked back by the Gold Coast City Council in April last year on several grounds, including its “overbearing perception of bulk due to its reduced setbacks and proximity to surrounding buildings.”

Monaco Property Group appealed the decision, deeming the refusal “erroneous, unreasonable, and unlawful.” However, after negotiations with the council, they were recently given the go-ahead.

“We are pleased to have worked collaboratively with Gold Coast City Council through the planning and application process, which has led to improvements to the overall project and to the two ultra-luxury resort-style recreation areas,” stated Mr Grasso.

“We have integrated new ocean-facing cabanas, a larger Broadwater infinity pool, and a gymnasium into the design, all for the exclusive use of Belvue residents,” Mr Grasso continued.

Belvue’s luxury resort-style amenities include two swimming pools, hotel-style daybeds and cabanas located poolside and waterfront, a swim-up bar, barbeque pavilion, gymnasium, sauna, and steam room.

Located on 13-15 Bayview Street, Belvue Broadwater will occupy a 20-meter wide medium-density site spanning 3,116 sqm. The three-bedroom plus multi-purpose room full-floor sky homes boast 273 sqm floorplans and exceptional Broadwater and ocean views, priced off-the-plan from $3.545 million.

“A striking and seamless indoor-outdoor flow is cultivated through floor-to-ceiling glazing overlooking panoramic views of the water,” said Plus Architecture’s design statement.

While the striking tower design will feature a curved form to “reflect the ebb and flow of the ocean.”

Here, on the highly coveted northern shores of the Gold Coast, Runaway Bay’s development history dates back to the 1970s. It set the benchmark for waterfront apartment living on the Gold Coast in the 1980s and 1990s.

Mr Erwin said there is still a significant level of enquiry in the Gold Coast market from interstate relocators and local downsizers.

Belvue Broadwater caters to this continued demand. Construction is scheduled to commence in the second to third quarter of this year.

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Header image courtesy of NPA Projects.