Wetlands and war tributes

narrower streets designed to reduce traffic speeds.

Webb said purchasers included first-home buyers, some people on their second and third homes, and empty nesters.

Webb and McLauchlan said they were targeting owner-occupiers rather than rental investors.

They have developed 250 sections already and have another 88 on the way, and aim to release between 50 and 100 sites a year.

Medium density means most sections are 300 square metres to 500sqm.

‘‘We have a design team,’’ Webb said. ‘‘While we’re not trying to build mansions, we want quality homes. We particularly like two-storey designs as it allows a small section to still have a good backyard.’’

One of the challenges in the current market is how to come up with affordable housing.

‘‘We have housing going at between $550,000 and $850,000 with the majority in the $600,000 to $750,000 range.

‘‘Compare that with some other new areas of Hamilton where everything is over $850,000.’’

The development is close to a shopping and service centre, including a medical centre, eateries and childcare.

One of the early tasks faced by the developers was having one of Transpower’s 110kV electricity lines put underground.

The idea was met with something close to disbelief, Webb said.

Undergrounding the lines and felling the giant pylons ultimately cost more than $15 million. Webb said when it came to arranging finance, the reaction from his bank was similar.

‘‘They thought we were joking. We had to sign a line-deviation agreement with Transpower and provide a bond to give them confidence. They gave us a cost estimate of $15 million – however, if it cost more, that was our risk. I can tell you, I slept a lot better when it was all done.’’

Then there was the need to cater for the ‘‘one in 100-year flood’’, an environmental requirement of local authorities. This resulted in the creation of hundreds of metres of wetlands now provided with bridges, public seating areas, adjacent play areas for children and more than 700,000 native plants.

The aim was to provide a course for a local tributary and to improve water quality by reducing construction and urban run-off into the Waikato. The wetland development also provides a habitat and passage for eels.

Chedworth Properties has been in the property development business for decades. It effectively began as a family business in the 1960s and its projects include Chedworth, Fairview Downs, Horsham Estate, St James Park and Coleraine.