A multimillion-dollar hotel complex with a  retail component, a retirement village and 704 car parks over five storeys will be built on the site of the council’s former car park on Brisbane Street Mooloolaba.

The 14-storey hotel will have 104 units in one tower, while a second residential tower will have 96 units for sale. A third tower will comprise of a retirement village with 97 independent living units and 30 aged care beds.

A supermarket, shopping centre, bar and indoor sport and recreation complex is also included in the plans.

The application for the complex, which first went out to the private sector in August 2015, has just been approved by  Sunshine Coast Council.

The council, which will remain the owner of the site, set up an independent consultancy to review the applications, then voted on their recommendations.

Cr Dickson said the council was proud of the development which was designed to appeal to a mix of ages.

He stated that in considering future population needs it was important to provide developments that can help meet the demand for quality aged-care services in the community.

Work is due to start in April.