Failed subdivsion comes back to life
Plans for the failed Springpark subdivision site in Mt Wellington have sprung back to life under its new owner, the Wilshire Group.
A new subdivision called Richmond will create 600 to 700 homes over the next three to five years.
Wilshire bought the 10ha site on which Springpark was planned after the former owners, Panama Road Developments, went into receivership for the second time in December last year.
Springpark was meant to be an affordable housing development, ultimately delivering 424 homes.
Its consents went back to October 2013, but by mid-last year, no homes had been built and the developer sold the second and third stages of the project to Wilshire.
Panama collapsed a few months later, citing cost over-runs on consents and ground work.
Some 142 people who had been waiting for their houses for up to three years, were offered back a collective $7.3 million in deposits plus interest.
Second and third stage buyers, who had had their contract cancelled, were offered an option by Wilshire to buy into the new devel- A newsubdivision in Mt Wellington Will create 600 to 700 newhomes Expected to take five years
opment at a higher price.
Christie Wrightson, Wilshire’s sales manager, said she knew of a couple of buyers who had done so, but the rest of the 97 homes in the first stage were hitting the market on Monday this week.
She said the houses would primarily be terraced, ranging from $680,000 for a two-bedroom to $955,000 for a five-bedroom home.
Wrightson said that while they had largely stuck to the Springpark plans for the first stage, master planning of the later stages was still under way.
‘‘We have looked at how we can change the designs and maximise the liveability of the homes.
‘‘We’re focussed on creating a community through the use of our designs and masterplanning, our landscaping and the style of the homes.’’
The first residents were expected to move in next February, with the rest of the first stage finished a year later.