New baby boomers luxury tower now set to break ground
LOS ANGELES: A new baby boomers luxury apartment tower is now set to be built in a coastal setting. The developers behind the ultra luxury Mantaray development on The Spit will break ground this week on a new 11-storey tower in central Palm Beach.
Tim Gordon and Bruce Mathieson are pushing ahead with their luxury Jefferson Lane project ahead of a significant pipeline of development earmarked for the neighbourhood.
The 11-storey Elle on Jefferson, fronting Jefferson Lane and Gold Coast Highway, is expected to be completed by mid-2027.
Mr Gordon said the project, designed by architectural firm Cottee Parker, would be delivered by his own in-house building company, Gordon Corp Construction, and was aimed at the top end of the market.
“Jefferson Lane is a prized location because of its proximity to the beachfront, dining and retail,” he said.
“What we’re delivering with Elle on Jefferson is a complete lifestyle offering, combining one of the Coast’s most tightly held addresses with the confidence that construction is already underway.
“That certainty is what gives buyers assurance, and it’s why demand has been so strong.
“Luxury isn’t just about location, it’s in the detail.
“We’ve partnered with Cottee Parker to deliver a design outcome that prioritises wellness and liveability, ensuring Elle reflects the elevated approach our buyers expect.”
Gordon Corp and the Mathieson family fought off eight bidders to secure the 2185 sqm Jefferson Lane site, which is home to the Samuel Plaza shopping centre, for $17.5m in late 2024.
The site had been part of a deceased estate and had not changed hands in nearly 40 years.
The deal was brokered by JLL’s Sam Richards and Tim Jones and CBRE’s Mark Witheriff and Hayley Manvell, with Mr Richards describing Palm Beach as the “southern Gold Coast’s own millionaire’s row”.
Prices for two-bedroom units start from $1.75m while a three-bedroom unit will cost at least $3.1m.
Bruce Mathieson Jnr said a significant number of inquiries had come from locals rather than interstate investors.
“Our family’s partnership with Tim Gordon has always been about backing A-grade projects on the Gold Coast,” he said.
“Elle brings confidence to the market by combining quality design with the certainty of delivery that comes with an expert construction team.
“It’s exactly the kind of project the city needs as it grows, and we’re proud to support it.”
It comes as construction continues at the Mantaray Marina and Residences on the southern Spit.
The three-storey project broke ground last year and is expected to be completed in early 2026.