Questions remain as Eric Trump shares new images of Gold Coast mega-tower

Eric Trump has released new images of a proposed Trump Tower on the Gold Coast, but many questions are yet to be answered about the project.

Australian developer Altus, which signed an agreement with the Trump Organisation this month, said the tower would rise 91 storeys – about 335 metres – above Surfers Paradise, making it taller than any building currently in Australia.

It would have a 285-room hotel, 272 residences starting at about $5 million, retail and dining space, and an “exclusive” Beach Club.

“I am so proud to announce what will soon be the tallest building in Australia,” the US president’s son posted to X on Tuesday morning Queensland time.

“This marks our first venture into Australia – an extraordinary country in every respect – and I couldn’t be more excited to help shape its iconic skyline forever.”

He later retweeted an article suggesting the project had been approved. In fact, no development application had been lodged with the Gold Coast Council for the 3 Trickett Street site.

A public relations firm representing Altus said it would not be providing any information about when an application might emerge.

It also did not respond to questions about how much of the almost $1.5 billion needed for construction had been raised, and whether the president’s family was committing any money to the project or simply licensing his name.

Records obtained through the Australian Financial Security Authority show Altus director David Young has been declared bankrupt twice – while living in Cairns in 1991, and in Surfers Paradise in 2010. Both were completed.

Of the first bankruptcy, an Altus representative said: “David Young left the company in 1988 over a dispute, but unwittingly stayed on as a director. In 1991, it went bankrupt. He then repaid the debt and had the bankruptcy annulled.”

Of the second bankruptcy, they said: “An explanation is forthcoming in the next few days from an independent … lawyer.”

If the Trump Tower were built today, it would be the tallest in Australia, but the proposed 101-storey One Park Lane, also on the Gold Coast, could be completed first. Its developer claims a height of 382 metres.

Artists’ impressions of the Trump project have also raised eyebrows.

The compressed perspective of one has led some to incorrectly assume the building would back directly onto the beach, despite a road being between the site and sand (an obscured sports car can be seen where the road would be). Another shows the building towering well over eight storeys above the nearby Q1 – currently Australia’s tallest building – when in reality, it would be about 13 metres higher.

Questions have also been raised about the viability of the Trump brand name Down Under. Recent polling by this masthead showed the US president was more unpopular than Chinese leader Xi Jinping.

A Change.org petition calling for the project to be rejected had received more than 26,000 signatures on Tuesday.

“Beyond issues of overdevelopment, environmental impact, and pressure on local infrastructure, many residents are deeply uncomfortable with the Trump brand and what it represents,” it said.

“Allowing a Trump-branded development on the Gold Coast would send the wrong message about who we are as a community and what we are willing to endorse.”

Another petition calling for the development to be approved attracted more than 3000 signatures.

A representative for Gold Coast Mayor Tom Tate did not respond to questions about how the project could affect the city’s image, or about his reported trip to Mar-a-Lago in connection to the deal. Instead, a statement from acting Mayor Mark Hammel was provided.

“We welcome investment in the city, it shows confidence in our city, and ultimately creates jobs,” he said.

“A formal development application will be required, and we look forward to considering the application once it is received.”

Oxford Economics Australia economist Michael Dyer said demand for ultra-luxury units on the Gold Coast remained strong, and he was not surprised to see the building proposed.

“There are a few things behind it,” Dyer said.

“We are seeing some, not insignificant, interstate migration … The existing stock probably doesn’t best meet their needs, so we’re seeing a bit of a wave of development as developers seek to meet that cohort and what they’re wanting out of a product.

“It’s kind of just another building in that broader trend we’ve been seeing recently, so it doesn’t overly surprise us to see another development like that pop up.”

He said the top of the market remained significantly more lucrative for developers, with some projects having an average unit price close to $10 million, and some developers redesigning projects to incorporate fewer but larger units.

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