The NZ-owned operator will build 177 apartments across three five- and six-storey buildings at the Burleigh Golf Club.
The village will feature 145 Independent Living Units plus 32 aged care apartments providing in-home clinical care on land overlooking the 10th fairway.
RetireAustralia offered the Club $5.5M for the 99-year lease in July last year as we highlighted here.
The Club will receive an upfront lease payment when the village is approved as well as an ongoing income stream.
RetireAustralia CEO Alison Quinn told the Gold Coast Bulletin that the vertical design of the development meant that, unlike a traditional broadacre retirement village, 300 residents would be housed on a site of just 1.6ha.
“With more than 9,500 people aged over 65 living within a five-minute drive of the club, there is a critical shortage of purpose-built retirement living options in the area,” she said.