Room for 1000 more city slickers

Two apartment blocks being built on Wellington’s Victoria St will add an extra 1000 residents to an already burgeoning, increasingly vibrant inner-city population.

The $100 million, 17-storey Pinnacle apartment complex is expected to be complete by 2018, and the neighbouring $80m Victoria Street Precinct (VSP) apartments’ two towers will be complete in April and October next year.

Craig Stewart, director of developers Stratum Management, said the Pinnacle project had already sold 45 of the 86 one-, two- and three-bedroom apartments since they were unveiled on Wednesday, while all 140 of the VSP apartments had sold off the plans.

Stewart said Wellington City Council’s $13m rejuvenation of the Victoria St area had worked by drawing development and people to the precinct on Cuba St’s doorstep.

"Having more people living in the central city ... puts a lot less pressure on infrastructure and transport." City councillor Andy Foster

‘‘The council were astute enough to recognise the change in Cuba St and the upgrade in Victoria St, meaning developers could bring the appropriate product to that change,’’ Stewart said.

Adding to the vibe was the new $75m Creative and Technology Art Centre between Victoria St and Cuba Mall, due to open in 2018.

Students were increasingly staying in the capital after graduating, and the city’s compact but cosmopolitan vibe was another draw.

‘‘It’s a small city, but it’s got a big city feel.’’

Having another 1000 people in the city using services and spending money in restaurants, bars and shops everyday would only boost that vibrancy, Stewart said.

Between 2001 and 2013, the Te Aro Flat area jumped from about 3000 residents to more than 7000.

Wellington city councillor Andy Foster said he would be surprised if the number did not pass 10,000 after the 2018 census.

‘‘Having more people living in the central city brings more activity and money and it puts a lot less pressure on infrastructure and transport.’’

Foster said the influx of inner-city dwellers had been vital in buoying up the city’s previously sluggish retail and hospitality sectors in what had become the most urban city in the country.

‘‘We want the inner city growing and thriving, so it’s a win all round.’’

By the end of 2018, the $100 million Pinnacle apartments, pictured, and the Victoria St Precinct apartments will bring 1000 new residents into downtown Wellington.

Pinnacle’s neighbour, the Victoria Street Precinct apartment block, is due for completion in 2017.

A view inside the show apartment at the construction site for the Pinnacle apartments.