Tauranga's section shortage is set to experience some ease with the unveiling this month of a new Papamoa subdivision.
Tauranga-based property development company Zariba Properties Limited has begun earthworks on its latest development 'Terrace Views” - 380 lot residential development located off the new Te Okuroa Drive extension in Papamoa.
Terrace View is a new development located in the new extension of Te Okuroa Drive in Papamoa. Image: Google Maps.
Stage one of the development comprises 90 Lots, of which 72 have been pre-sold, largely to group builders. Zariba has decided to release the remaining 18 lots in Stage one to the public for sale on Saturday March 12.
Managing director Dwayne Roper says the company acknowledges there is community value in selling some sites directly to the public.
Builders can purchase them also, however.
The sections range in price starting at $245,000 and vary in size from 382 to 800 square metres. Reserves, which are posted on the Terrace Views website, have been set on all of the sections.
Terrace Views will be developed in four stages, with the remaining stages rolling out as the market dictates, says Dwayne.
The 18 sections being offered will be available for sale from 10am on Saturday March 12 via an on-line auction system. Prior registration and authorisation is required in order to participate in the process.
This is done online at www.terraceviews.co.nz
Dwayne says Terrace Views will be a subdivision for the discerning house owner, with high standard housing and covenants in place to protect owners' investments.
'All the market indicators suggest the Terrace Views sections will be in high demand with the shortage of sections being made available to the general public. Some of the larger sections being offered for sale will be well suited to families.”
Terrace Views is being marketed as a lifestyle community with walkways, cycle ways, boardwalks, ponds, parks, and native wetland planting. It is within easy walking distance of Papamoa College and Papamoa Primary School.
'We are wanting to create a new neighbourhood that the community can be proud of,” Dwayne says.
Zariba has been associated with other high quality residential and commercial projects over the years, both in the Bay of Plenty and beyond.
A most recent example being the TrustPower building in Durham Street.
6 comments
Davy B
Posted on 05-03-2016 15:09 | By dybryan
Why have so many sections been sold to developers when this could have been a real opportunity for first home buyers?
Sections sold to builders
Posted on 05-03-2016 15:30 | By Murray.Guy
Many new house sites are purchased in every subdivision by builders, usually on 'special builders terms'. Often these become a house and land package for first home buyers. The majority of folk prefer to purchase a new home to reduce the risk and insecurity of starting from the bare land. Financing is easier for a spec new home with not having to pay rent and build at the same time.
Yeah
Posted on 05-03-2016 20:27 | By Capt_Kaveman
But what about the layout of the roads? more twisty rubbish + can we have some random street names , do they all have to be Maori names
Good answer from Murray
Posted on 05-03-2016 22:02 | By Bill Gibson-Patmore
Thanks for letting folk know the main point of view, Murray. Thanks Sun Live for the story. With Kind Regards, Bill Gibson-Patmore.
Land of Gold
Posted on 06-03-2016 04:32 | By Johnney
Something is amiss when the cost of a block of dirt is as much as the price of a house to be built on it.
new subdivisions
Posted on 06-03-2016 07:38 | By OAP
We often hear talk of "affordable housing", but here again we have a subdivision with covenants in place .This just means the prices will be beyond most new home buyers. If the young people of today are truly to have a chance on the property ladder, then we must have subdivisions which will allow smaller, possibly transportable, homes, at lower prices.
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