Hope Island Multi-Tower Retirement Village Under Way

Construction on a 348-apartment retirement village in Hope Island is under way after launching to market in October.

The Gold Coast project spans the failed Hope Island Village Square marketplace site, a 3.4-hectare waterfront land parcel, that sold for around $17 million in 2019.

Backed by Reside Communities’, and led by CEO Glen Brown, an ex-RetireAustralia executive, the development will be built over five stages and includes five towers comprising 348 units and 15 villas. 

Brown said the project had “resonated with downsizers”.

“More than 30 per cent of stage one has been secured through expressions of interest," Brown said.  

“Esperance will also help to address an undersupply of quality residential options for retirees on the Coast, with many of our buyers local and keen to stay within the area they know.”

Reside Communities says the Hope Island development will create close to 1200 jobs during stage one works.

Up to 200 daily contractors have started foundation works for the project's first stage, a tower known as Esprit.

The Hope Island project will be built across five stages and includes five towers.

 Published on 5 March 2021