The developer behind a $10 million Frankton subdivision says its popularity means it is eyeing other sites.
Construction has started at the Alta Queenstown development at Remarkables Park, and is expected to be finished by July.
All 16 of the two- and three-bedroom townhouses being developed by Twenty Twenty Partnerships sold off the plans.
Managing director Phil Brown says given the high level of interest in Alta, it’s likely the company will look to create another similar development in Queenstown.
The medium-density housing being built is under-supplied in Queenstown, he says.
‘‘The local community has been very interested in this form of housing. There is a demand for medium-density living that is created with the end user in mind.’’
Twenty Twenty Partners is involved in several residential developments nationally, including a retirement village north of Wellington and Union Green, a planned townhouse and apartment complex in Auckland.
RCG, a property, architecture and research company, created the master plan for the site and designed the homes, which are being built by Naylor Love.
Principal architect John Lenihan says the aim was to strike a balance between density and suburbia.
‘‘Alta appeals to people because it maintains a suburban scale with individual freehold titles, and has the feeling of a neighbourhood, something that is difficult to achieve.’’
In September, Brown defended price hikes for Alta buyers, blaming unacceptable consent and approval costs.
At the time he called the consenting process ‘‘a nightmare’’, saying his company has cut its margin and inflicted a 2.5 per cent increase on buyers.
‘‘The company has absorbed as much of the variation price impact as it could and has passed on the minimum requirement to keep the project live.’’
Otago Daily Times