Pelligra and Giannarelli to offer 20 apartments within $480m Ritz-Carlton precinct at Main Beach

Pelligra Group and Giannarelli Group are looking to add a permanent residential offering to their long-running $480 million redevelopment of Mariner's Cove at Main Beach.

The joint venture has filed revised plans for the prominent 60-64 Seaworld Drive site, seeking to replace 54 previously approved short-term accommodation suites with just 20 two and three-bedroom apartments.

The move would reduce the short-term accommodation component of the Kennon Architects-designed development to 100 suites, while introducing permanent residents to the waterfront precinct for the first time.

The apartments would be spread across levels two and three of the approved building, with the planning documents describing the change as a response to the evolving character of The Spit and an opportunity to broaden the mix of uses within the precinct.

While the accommodation mix is changing considerably, the overall form of the development isn't.

The external building footprint and architectural form are proposed to remain largely as approved, as will the 66-berth superyacht marina that will form a major part of the redevelopment.

There have, however, been more substantial changes below ground.

Pelligra and Giannarelli are seeking to remove one of the three approved basement levels following a review of the building configuration and basement design.

The remaining two basement levels would be expanded and reconfigured, with the overall number of car spaces reducing from 432 to 324.

The revised plans also include changes to the central piazza and landscaping, as well as new private wellness facilities, gyms and pool terraces for residents.

The latest application represents another evolution of a project that has been in the works for several years.

Pelligra and Giannarelli acquired the 1.15-hectare land lease and adjoining 2.8-hectare seabed lease from Chinese developer Ridong in late 2021 before unveiling their initial $480 million vision for Mariner's Cove the following year.

The redevelopment secured approval in August 2023 before the decision was challenged in the Planning and Environment Court over its potential impact on the surrounding precinct. The development was ultimately cleared to proceed.

Marriott International had already committed its Ritz-Carlton flag to the project in 2022, with the luxury hotel to anchor the wider mixed-use precinct alongside the marina, hospitality and retail.

The original hotel announcement envisaged around 150 rooms, however the latest plans would reduce the project's short-term accommodation offering to 100 suites to make way for the 20 permanent residences.

There has been industry speculation the residential component could ultimately carry Ritz-Carlton branding, given Marriott's established Ritz-Carlton Residences platform globally, however there is no reference to branded residences in the current planning application.

No dedicated sales campaign has been launched for the apartments, with pricing and the final residence mix yet to be publicly released.

The project is one of several major developments reshaping The Spit and Main Beach waterfront.

Gordon Corp's Mantaray Marina and Residences is nearing completion further along The Spit, while Makris Group is progressing its redevelopment of Marina Mirage. Then there's The Isles by Ignite Projects, which has just launched. That is just 28 luxury apartments, also on Seaworld Drive.

Pelligra and Giannarelli are also pursuing another major marine project nearby at Carter's Basin, where plans include more than 100 commercial marina berths, short-term accommodation, retail and upgraded public waterfront areas.