LACEY Group has been given the go ahead on its $32 million The Monroe, a boutique apartment project in Palm Beach on the Gold Coast.
Lacey received development approval for The Monroe, which will be the group’s second development located on Jefferson Lane, after the sold out $32 million The Jefferson, which launched in 2017.
The Monroe will include boutique apartments, a beach house and a penthouse, totalling 33 residences, with prices beginning at $619,000.
“This project has been designed with owner occupiers in mind and is unique in that it caters to the full spectrum of purchasers, with two- and three-bedroom apartments, alongside a penthouse and a townhome on the ground floor,” said Adam Lacey, director of Lacey Group.
The development will also feature a rooftop terrace with 250sqm of recreation space, including an infinity pool, BBQ facilities, a resident’s and a firepit.
“In addition to these exclusive on-site facilities, residents are adjacent to the Palm Beach Surf Club and just a short walk from Gold Coast foodies favourites including Wildernis Cafe, Balboa Italian and The Collective,” added Lacey.
The Monroe, which is named for actress Marilyn Monroe, will be designed by Plus Architecture who will aim to reflect the quintessential Gold Coast buildings of the 1950s, and the natural features of the surrounding rocky hinterland mountains.
“We have worked with Plus Architecture to ensure that like namesake Marilyn Monroe, this building is classy, stylish, timeless and above all, iconic,” he said.
Each residence will feature oversized kitchens with European appliances, as well as floor to ceiling windows, taking advantage of the sites access to views of the coastline, city skyline and hinterland.
“We’re anticipating the apartments will be popular with young professionals looking to upgrade to beachside living, while the penthouse and townhome will appeal to downsizers and potentially a family looking for a home-style residence with access to a suite of lifestyle amenities,” said Lacey.
Recent demand for foreshore living offered by Palm Beach, was demonstrated with the sell-out performance of Cru Collective’s $40 million Siarn Palm Beach North project nine months ahead of its completion.
The Monroe will be launched to the market in April, with early site works scheduled to begin mid-2021.