The site of the former Gold Coast Hospital in Southport is set to become a $550 million master-planned community and retirement village, named “Queen Street Village”, with a highly anticipated launch expected within the next few weeks.

Situated between Queen Street, Nerang Street, and Little High Street, the 3.2 hectare site is currently awaiting development approval from Gold Coast City Council.

Property Solutions, the Brisbane-based developer overseeing the development, is planning at least eight towers within the community ranging from 12 to 25-storeys, and a prominent retirement community is planned to be spread over two 25 and 21-storey buildings. Two residential high-rises are also planned, along with a retail precinct, cinemas and medical centre.

The developer has been responsible for projects including James Street at Fortitude Valley, The Barracks at Paddington, SW1 at Southbank and the urban redevelopment of Nundah Village.

Property Solutions’ sales and marketing director, Craig Wright, said the company is in the final stages of development approvals for stage one, and the marketing team is in preparation for a launch over in December of this year and into the New Year.

“The unique mix of size, location and transport connections marks this site as ideal for a transit oriented mixed-use development, master-planned to provide a range of uses that will ensure an active and vibrant gateway to the Southport CBD.”

“Southport has long been established as the Gold Coast’s CBD, with strong transport infrastructure, and a network of businesses, private and public schools, shopping and medical precincts populating the suburb,” Queen Street Village marketing manager Adrian Parsons said.

“The Village will create many commercial and residential opportunities for the Southport area and the wider Gold Coast, and will cater to a thriving local population, which is predicted to grow 3.5 per cent per annum in the next 20 years.”

The developer is still awaiting a decision by the Gold Coast council.