A billionaire developer has just confirmed plans to create the tallest building in Broadbeach, just 400 metres from the light rail station on the Gold Coast.
Harry Triguboff, the developer of the project who is also known as Australia's $10 billion man, intends for the apartment complex to be 64 storeys high, reports Domain.
The building is going to be named the Pegasus apartment block and it's going to be nearly twice as high as any other building in Broadbeach.
In fact, it's going to reach almost the same height as the Q1's skydeck, which is located in Surfer's Paradise.
A new City Plan for the Gold Coast came into effect in February of this year, which gave new maximum ceiling heights for buildings throughout the area.
The application for the Pegasus building's development was launched two years ago and was approved by the Gold Coast City Council on Tuesday (7th June).
Regarding the appearance of the building, it will be a slim, wedge-like apartment tower that is going to be more than 215 metres above ground.
According to the Gold Coast City Council, the new building will be a "slender, sculptured development" that is sure to enhance the Broadbeach area.
Planning assessors from the council said: "The unique slender tower relates well to the existing high rises and will enhance and contribute to the iconic Broadbeach skyline."
They added that "the height of this new proposed tower will have a similar impact on the Broadbeach skyline to that of Circle on Cavill's 70 and 50 storeys to the Surfers Paradise skyline".
It seems that they're hoping the new development will be a landmark for the area, making Broadbeach visually prominent, just as the Oracle building does.
The building will be erected on a rectangular corner block on Surf Avenue and the Gold Coast Highway, opposite Star Casino, which is also currently under development.