$29M apartment building for Tauranga

A $29 million apartment development is announced for Park Street.

Developers are calling for expressions of interest for a $29 million luxury inner city apartment development planned for 10 Park Street.

The existing two storey building will be replaced with the six storey Latitude Residences apartment complex being developed by TYBI in partnership with Form construction, Ignite Architects and Veros Property Services.

Expressions of interest open with marketing agents Ray White Tauranga directors Ian Grindle and Rodney Fong, on Wednesday.

The development is another indicator of the revitalisation of the city centre and will meet the growing need for quality inner city residences,” says Ian.   

“Latitude Residences will meet a growing need in the market.  The city and region's fast-paced growth means more and more out of towners and locals are looking for residential options that put them in the heart of the city within easy reach of all of the amenities on offer, and afford them a lifestyle that is all about convenience, security and refinement.

The development features 27apartments with one, two and three bedroom options with studies, decks and parking facilities. Boasting sweeping inner harbour and Mount views and in such close proximity to the city centre, the Mount and arterial routes to Auckland and Hamilton, interest is expected to be high from those seeking the convenience of inner city apartment living.

The development team has an established reputation for excellence in construction and the interior fit-outs speak for themselves,” says Ian.

“Residents will be able to walk to restaurants, cafes, bars, the theatre, waterfront, city centre amenities and shops.  There are good quality medical amenities close by and, with the Mount lifestyle, beaches and the airport just over the bridge, it will certainly be an easy and attractive property to market.”

Demolition/construction is expected to begin toward the end of the year.

The development reflects the growth and maturity of both Tauranga and the city centre, says Veros Property Services Development Manager Sunil Hira.

“Aligned with Tauranga's fast-paced growth and the city centre revitalisation is a growing demand for inner city living options.  Investment in quality developments like Latitude Residences meets this need.” 

Latitude Residences is one of a number of planned developments that are starting to meet the growing demand for inner city living as the population of Tauranga increases and diversifies, says Priority One Chief Executive Nigel Tutt.

“Medium to high density residential developments on the city fringes are essential if we want to see Tauranga grow into a vibrant and contemporary city.  Developments of this kind will also result in increased public and private sector investment in amenities and activities to support the city centre and create an area that is increasingly attractive to local people and visitors alike.”



6 Comments

@tgacentral - you totally miss the point!

Posted on 20-06-2017 21:32 | By The Caveman

Do you really think that buyer of the $3.5 million penthouse, will only have ONE car ! Get real, one for dad, one for mum, and one for the 18-20 year old still living at home. By your suggestion, they can park TWO cars on the surrounding streets - FREE. Sorry, why should ordinary ratepayers provide FREE parking - and I will say it "RICH PRICKS"

Forget Parking Caveman and Murray

Posted on 20-06-2017 10:11 | By tgacentral

The article clearly states that parking facilities will be provided with the development so your rant is rather invalid. Despite that, this is the exact location that provision for reduced parking should be permitted (one park per unit would be adequate). Residents can walk to town and to the central bus depot or pay to park in Council facilities if they have too many cars with no harm done to the public. This development is what Tauranga needs!

Caveman & Parking bang on.

Posted on 20-06-2017 08:58 | By Murray.Guy

Totally agree with Caveman in regards parking. The parking needs created MUST be met by any and all developments (city wide). The decision of this City Council to have ratepayers and motorists meet the parking needs of developments is corrupt and inefficient. Specifically the Park Street area is destined for intensification, coupled with increased local and tourist visits to Cliff Rd Gardens, historic elements and the Elms, the failure to provide adequate parking on site is 'head in the sand' at best.

Great development

Posted on 20-06-2017 06:09 | By Johnney

Great to see housing growing up and not out. Council needs to ring fence residential boundaries to stop the urban sprawl. Spreading housing further out creates too many infrastructure problems with roading, transport, traffic etc. Bring more of this on!!!!!!

This tem lacks a bit of info !

Posted on 19-06-2017 21:20 | By The Caveman

1. It seems that the owners of the current apartments have ALL sold out to the developers !!2. No mention of OFF street parking, for the new development - I would suggest that - based on the numbers provided, that average cost is over $1Million per apartment. Thus one would hope that the council has put in place a requirement on ONE off street park, per bedroom, per apartment, AND that the car parks are TOTALLY tied to the individual apartments and that they cannot be sold on a separate title.

More.

Posted on 19-06-2017 13:59 | By Smilarkie

Finally developers are helping the city. Go up, not out, its how all big cities are built and solves so many issues. Well done!! About time more developers got on board with this sort of building instead of selling tiny sections for huge prices. Great effort.

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The Lovely Mount Maunganui beach. Photo: Denis Player.

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