Riverside land draws interest from five firms
Four now progress to next phase
Hamilton City Council says property companies across New Zealand were lining up to help develop prime riverside land in Hamilton and it has narrowed the list down to four.
In November, the council invited developers to complete an expression of interest, in a search to find a partner to work with and develop the 242-266 Victoria St site in the CBD next to the city’s thriving Victoria on the River precinct.
The council wants a multi-storey mixed-use development on the site, including underground parking, ground and first floor retail, hospitality and commercial space. Residential apartments would be built on upper floors to encourage inner city living.
The council has now received interest from five developers from within Hamilton and beyond.
Mayor Paula Southgate is not surprised by the level of interest given what’s happening in the wider city and based upon a growing awareness of Hamilton’s potential.
“For a start, this is a unique opportunity. A 2000sq m site in the heart of a fast-growing city that we will transform into a vibrant development open to the stunning Waikato River. It’s a huge opportunity for any developer and will be a gamechanger for our central city,” she said.
Council staff worked with an evaluation panel to narrow down the applicants to four developers, including two from Hamilton. These developers have been invited to progress to the next phase, a Request For Proposal, where they will provide a more detailed overview of their concept and how it aligns with the council’s desired outcomes.
“Throughout the process we’ve been very clear on the outcomes we want to deliver for Hamiltonians. So I’m looking forward to seeing how developers propose bringing those to life,” Southgate said.
Central City Advisory Group chair council, deputy mayor Geoff Taylor, was thrilled the project was moving forward.
“The calibre of the developers interested in this site is amazing. Just imagine how Victoria St will start to look with this classy extension of Victoria on the River flowing into the Waikato Regional Theatre, an iconic pedestrian/cycle bridge and an exciting sports hub at Ferrybank. This is a vision I get up for each morning.”
With the Request For Proposal closing in mid-march, council staff expect to put forward a preferred partner to council for approval in April before detailed design work can begin.