HIGH HOPES ENDURE
Words: Michelle Collins.

Forget the economic downturn - the developer of Brisbane's most expensive penthouse claims he will have no trouble selling the $13.75 million home.
The two-storey penthouse is in the 15-storey Scott Street riverfront tower at Kangaroo Point currently under construction.
With 675sqm of space - not including the four-car accommodation - it will have four bedrooms, all with ensuites, a study, media room, two kitchens and a lap pool and spa overlooking the Storey Bridge.
Waterford Properties managing director Mike Kavali said that despite the economic crisis there were still people rich enough to buy the penthouse.
"Most very wealthy Brisbane people are still very wealthy people, despite the recession," he said.
"These people will always be interested in the best residences on offer in the city whatever the temporary setbacks of the economy."
He said there was a gap in the prestige market following the shelving of many projects around the city.
"The current market has created the room by a pause in new prestigious residential developments in Brisbane," he said. "There is not much new development for 2010 and beyond for them to look at anymore - most projects have been shelved."
Collection House founder John Pearce currently holds the record for the highest price paid for a Brisbane unit.
He spent $7.37 million in 2000 to buy a converted penthouse off-the-plan in the city's second tallest building, Riparian Plaza.
And it isn't just the penthouse in the 15-storey Scott Street development that will require wealthy buyers.
As well as the two-storey penthouse, the tower will include a three-storey villa starting from the ground floor, which is being marketed at $12.45 million.
The other 10 one-level apartments start from $6.2 million.
Five apartments sold off-the-plan for more than $5.5 million each.
It isn't just the price tag that is huge.
The smallest apartment in the development at Kangaroo Point is 433sqm - bigger than most homes.
In addition, the river-facing balconies will be the biggest in Brisbane covering 116 sqm - or the size of most three-bedroom apartments.
The tower will sit alongside Silverwells, two of Brisbane's oldest heritage manors, which are being restored by Waterford Properties. The semi-detached manors, set on 1700sqm, will each have four bedrooms, a formal garden, 12m pool and wine cellar. They are expected to fetch $7.5 million each.
The development will be impossible to miss, with a 45m sculpture down one side of the tower.
"It will be the most striking residential building yet seen in Brisbane," Mr Kavali said.
Construction is on schedule for completion in April 2010.