Homecorp starts building $360m Lyon Residences at Budds Beach

What's happening

Homecorp has started construction on Lyon Residences, a $360 million, 32-storey apartment tower on the edge of Budds Beach in Surfers Paradise. The project was approved by the City of Gold Coast on 19 June 2026, and work began in September.

The tower adds 178 new homes to Surfers Paradise, which Urbis data cited in the report shows led the Gold Coast for new off-the-plan apartment sales in the June 2026 quarter. Mayor Tom Tate welcomed the project, saying the city needs to give buyers "greater choice".

The key details

Homecorp, owned by Prime Life Technologies, is building the tower through its own construction arm, Homecorp Constructions. DBI is the architect.

• Address: 8–10 Acacia Avenue and 25–27 Oak Avenue, Surfers Paradise
• Height: 32 storeys (105.9 metres)
• Apartments: 178 (164 two-bedroom, 12 three-bedroom, 2 four-bedroom penthouses)
• Amenity: Level 6 wellness retreat and a Level 31 rooftop with heated infinity pool
• Parking: 248 car spaces and 75 bicycle spaces

Timeline and next steps

Construction is now under way, with a sales launch expected in the coming months and prices starting from $1.6 million. The report does not give a completion date.

Surfers Paradise accounted for 33% of the city's new apartment sales in the first half of 2026, according to the Urbis figures cited, so take-up of the remaining stock will be watched closely.

Homecorp founder and chief executive Ron Bakir said the design considers how each home will suit owners' lifestyles over the long term, with an eye to buyers planning to stay for 10, 20 or even 30 years. That focus on liveability is aimed squarely at owner-occupiers rather than short-term investors.

What it means for Gold Coast property owners and developers

Builder-developers starting work before a full sales launch is a sign of confidence in Gold Coast apartment demand, particularly for larger two-bedroom layouts suited to downsizers and owner-occupiers. New supply in Surfers Paradise also gives buyers more choice in a market where well-located new stock has been limited.

For owners of older apartments nearby, new prestige product can lift the profile of the precinct, though it also adds competition when reselling. Buyers considering off-the-plan purchases should check completion timing, builder track record and contract terms. This is general information, not financial advice.

Frequently asked questions

Where is Lyon Residences?

It is at Acacia Avenue and Oak Avenue on the edge of Budds Beach, Surfers Paradise.

How many apartments will Lyon Residences have?

178 apartments: 164 two-bedroom, 12 three-bedroom and two four-bedroom penthouses.

How much do Lyon Residences apartments cost?

Prices start from $1.6 million, with the sales launch expected in the coming months.

Source: Brisbane Development, published 20 September 2026. This article is an independent summary and commentary by GC Prestige based on the original report — read the source for full details.