Steer’s new luxury apartment development will soon hit Palm Beach shores

Market Insights
1 year ago
2 minutes

Luxury real estate developer, STEER Developments, has purchased another blue-chip development approved site in prime Palm Beach.

Plans are set for Steer to produce CÔTE Residences, a brand new luxury high-rise development costing $48 million. Located on 3 Thirteenth Ave., Palm Beach, CÔTE will only be a minutes’ stroll to the sand.

The apartment tower will comprise 17 half-floor apartments with three bedrooms, three and a half bathrooms, and two car parks each. Designed by DKO Architecture and Plus Architecture, each apartment will open to magnificent views of the ocean while maintaining a sense of serenity and privacy. The concept of home is at the forefront of CÔTE’s design philosophy, with warm interiors to emulate modern coastal living at its best.

Steer’s CÔTE Residences will boast elegant design and refined finishes. Image courtesy of Steer.

Robert Steer, founder of Steer Developments, says, “The local population in Palm Beach is forecast to grow considerably over the next 10 years. We see a unique opportunity to cater for the market.”

Just down the road from this DA approved site is 77 Jefferson Lane, where a $3.95 million apartment comprising three bedrooms and 247 sqm was recently sold. The beachfront Jefferson Lane is the most highly sought-after strip in Palm Beach. This bodes well for surrounding residences like the upcoming CÔTE apartment tower.

Steer is constantly pursuing development opportunities in South-East Queensland be it residential or commercial sites. With the great migration of Australians to Queensland, Steer is aptly catering to the continuously rising demands for homes in the Sunshine State.

“Despite the rising construction prices, there remains a strong local demand,” Mr Steer explains. Strongly committed to delivering this high-quality project, Steer plans to partner with a strong local builder.

Currently, Steer expects the sales and marketing process for CÔTE Residences to begin in July, with construction following shortly after in September.

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Header image of CÔTE Residences courtesy of STEER.