Benowa’s $1bn ‘Urban Village’ Masterplan Greenlit

It was a razor-thin victory that has set a precedent for the vertical transformation of underutilised land-rich retail assets to unlock housing supply on the Gold Coast.

In a tight 8-7 full-council vote, the $1 billion triple-tower Benowa Gardens Shopping Centre redevelopment has been greenlit—paving the way for the creation of a  “live-work-play” urban village. 

Under the newly approved masterplan framework, the 17,660sq m holding—about 4km west of Surfers Paradise—will be dramatically repositioned.

It will deliver 413 apartments across a trio of  towers sitting atop a revitalised commercial hub comprising a 4000sq m supermarket, 6000sq m of specialty retail and dining space, a 7000sq m health and wellness precinct, and 9630sq m of office and medical suites.

The preliminary approval establishes a critical benchmark for the broader transition of suburban low-density retail assets into diversified, high-density urban precincts as the city targets 185,000 new homes by 2046 to accommodate a projected population of more than one million residents.

It comes about 12 months after the masterplan proposal was lodged by urban planning consultancy Urbis on behalf of the proponents.

Urbis director Melissa Griffin said the decision reflected the strategic importance of delivering additional housing and services within established urban areas already supported by existing infrastructure.

“This has been a very detailed and considered planning process involving extensive technical assessment and community engagement,” she said.

▲ Renderings of the approved masterplan concept for the triple-tower Benowa Shopping Centre redevelopment.

“The approval provides a framework for a future mixed-use urban village, however there are still many future stages to come, including detailed design and subsequent development applications.”

More than 550 submissions opposing the masterplan proposal were received by the council and there is already talk of an appeal being lodged against the decision.

“We have received some correspondence from some submitters indicating that they intend to appeal the decision, that’s their legal right,” Gold Coast Deputy Mayor Mark Hammel said.

“I'm confident that officers have done their work as town planning professionals, they've assessed it against our planning scheme and all relevant legislation.

“Once something gets into appeal, gets into the courts, you never know exactly which way it will go, but I'm confident that the officers have done their job…[and] the decision of councilors is that it should be supported, and we will now defend that position if it gets to appeal.”

▲ A rendering of the approved Benowa Shopping Centre masterplan topped by a trio of towers comprising 413 apartments.

Centre owner Patrick Lu said the approval reflected years of work and collaboration between consultants, council officers, stakeholders and the local community.

“We understand developments of this scale bring strong community interest and discussion,” he said. “That feedback has played an important role in shaping and refining elements of the proposal, particularly around traffic, connectivity and pedestrian safety.

“We see this as a long-term investment in the community, not a short-term project.

“Our intention has always been to work collaboratively with our neighbours, including local schools, Pindara Hospital, businesses and the wider community to deliver a well-designed urban village that responds to the future needs of the Gold Coast.”

As the next phase of the masterplan is advanced, it is expected to be closely watched by landlords of other local retail assets harbouring their own vertical ambitions.

Built in the early 1990s, the Coles supermarket-anchored shopping centre features a 5856sq m gross floor area and 384 carparking spaces.

It is bordered by Carrara Street as well as Ashmore and Benowa roads.

The neighbourhood retail asset was acquired by a South-East Queensland private investment group in 2022 for $60.5 million. It was offloaded at a 50 per cent gross capital gain by Brisbane fund manager IJ Capital, which had secured it for $40.1 million from Stockland less than two years earlier.