BREAKING NEW GROUND
Momentum is building in New Zealand’s development sector as more and more Kiwis see the advantage in a new home. CATHERINE MASTERS looks at the significant projects in the pipeline.
With Auckland expected to grow by another 720,000 people over the next 30 years, the city will need a whole lot more dwellings.
The council’s Auckland Plan 2050 plans to redevelop and intensify existing parts of the city, add new communities in future urban areas but limit residential growth in rural areas.
Since the Auckland Unitary Plan became operative in 2016, there has been a dramatic increase in the number of consents for higher density housing like townhouses and apartments, increasing 52 per cent in three years.
Penny Pirrit, director of urban growth and housing, says: “Our intention is for two thirds of Auckland’s growth to be in existing urban areas … meaning that people can live closer to employment, schools, recreation and entertainment while providing improved public and active transport options.”
The city’s housing developments include rural transformation in DruryOpaheke and PukekohePaerata. Over the next 30 years around 22,000 homes in DruryOpaheke and 12,500 in Pukekohe-Paerata will accommodate up to 100,000 people.
Kahawai Point, a master planned neighbourhood 10 minutes out of Waiuku, plans around 800 homes. Further south is Winton's Lakeside development at Te Kauwhata, a masterplanned community of some 1600 new homes next to Lake Waikere.
At the other extreme are three luxury apartment towers in the central city — The Pacifica, Seascape, and The International. The International’s penthouse sold for $15.3m, while CBRE is marketing Pacifica’s penthouse for $35m, and Seascape developers are asking more than $20m s.
On the city fringe, boutique developments include Edition, 18 homes in Parnell. Sotheby's is marketing the last few 2two-bed and three-bed apartments, as well as the sub penthouse for $6.25m. Barfoot & Thompson are marketing 49 townhouses and apartments at The Crest on Grey Lynn ridge at Turakina Sreet, while Bayleys now have only four apartments left in The Vulcan, an urban New Yorkstyle development on the eastern edge of Victoria Park.
Further out, Bayleys is marketing the last 20 apartments in the 246-home Alexandra Park neighbourhood development, due for completion mid-2020. The company also has Richmond, in Mount Wellington where apartments start from an affordable $590,000 and terrace homes at $699,000.
Ray White is marketing the Remuera Residences bordering Wairua Reserve, where apartments boast Matisse kitchens, vacuum robots and Alexa, start at $850,000. New government housing organisation Kainga Ora is planning 10,000 new homes over the next 10 to 15 years, in Mt Roskill. In Mangere an estimated 2500 Housing NZ houses will be replaced by up to 10,000 new homes.
The International’s penthouse sold for $15.3m, while CBRE is marketing Pacifica’s penthouse for $35m and Seascape developers are asking more than $20m for theirs.