It’s all go.
Queenstown’s council has granted consent for a 200-plus residential unit development on the Frankton Flats.
Locally-based developer Kurt Gibbons’ Gibbons and Co is behind 5 Mile 226 Ltd’s project, to be completed in three stages, which will ultimately result in 226 two-bedroom, two-storey standalone apartments, each with a private backyard.
Gibbons plans to sell 126 on the open market — the cheapest is priced from $845,000 — and retain the remainder for long-term rentals.
Mountain Scene first revealed plans for the Five Mile Villas, being built on two vacant blocks at Hall St, near Remarkables Residences, in
April.
Gibbons, a major player in the Auckland and Wellington residential and commercial property markets, snapped up about 2.3 hectares of land, split into two titled blocks, close to the Queenstown Central shopping centre, which was part of a larger land holding, owned by Singapore-based GYP Properties.
He’s heaped praise on Queenstown’s council for its cooperation through the consenting process, despite a slight delay in getting approval.
Located in the Frankton Flats special zone, consultant planner Nathan O’Connell’s report — signed off by independent commissioner Dr Lee Beattie — says, overall, the development’s considered to be consistent with the outcomes sought by the zone rules.
Also, the combination of the building design and extensive landscaping will ensure any effects in respect to residential character and amenity on adjacent persons will be less than minor.
In respect of positive effects, the development will ensure the ‘‘efficient and effective delivery of much-needed housing’’ in Queenstown.
The decision notes the comprehensive nature of the subdivision will provide ‘‘a large number of houses that will help meet the demand and recorded need for more affordable housing within the district’’.
Gibbons says construction’s set to start at the end of this month and he’s still expecting the first residents will be living there by Christmas.
He estimates up to 20% of properties sold to date have been snapped up by first-home buyers.
— additional reporting: Olivia Judd
