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August, 2017

One of Queenstowns longest established development companies,
Remarkables Park Ltd, and investment company New Ground Capital this
month announced a new 200-apartment housing project to help address
a number of Queenstowns most pressing issues.

As a result of its international and domestic appeal, the unprecedented
rate of tourism and population growth in Queenstown has created a set
of challenges or symptoms of success.

Our region is suffering from traffic congestion, a lack of housing stock,
a shortfall in visitor accommodation and a need for new tourism
infrastructure to keep up with demand and expectations, said
Remarkables Park Ltd chief executive, Alastair Porter.

Mr Porter said there is no one solution to any of these problems so they
must be tackled by multiple solutions. He said Remarkables Park, the
districts largest mixed-use high density zoned development, was
designed to provide a wide range of integrated retail, business, visitor
accommodation, medical, entertainment and living options. He said he
believed Remarkables Park could make a significant contribution by
ensuring it provided residential accommodation that enabled staff to
live close to work, play, education and recreation options, and in turn
give businesses confidence that accommodation was available for staff.

Mr Porter said we have worked closely with New Ground to provide
them with a site at value that works for affordable accommodation. He
also said that given it was hard to reduce building costs, he was an
advocate of building to higher heights, reducing the need for private
cars by promoting the ability to walk or cycle to work, and creating a
greater critical mass to support public transport and other options like
shared cars, ferries and Gondolas, and reducing development levies for
recreation and roading.

I believe that Remarkables Park can contribute solutions on a number
of levels including working closely with partners offering purpose-built,
high-quality workforce accommodation thats close to where the jobs
are now, and will be in the future. Thats what New Ground Capital is
working to address and were delighted to be working with them, said
Mr Porter.

Were also addressing traffic problems by giving people the option to
live close to their work, shopping, recreation options and public
transport. Recreation includes encouraging biking by our long-term
financial commitment to the Queenstown Trails Trust for Twin Rivers
Trail development and maintenance, he added.

Roy Thompson, New Ground Capitals Co-founder and Managing Director,
said choosing to build at Remarkables Park gives us the ability to
deliver apartments close to work options, shopping and public
transport. It will help employers to recruit and retain valued staff by
securing access to healthy, comfortable accommodation in a great
location with incredible mountain views.

Remarkables Park is a true mixed-use development thats been well
integrated in its design and planning. Were confident that our
accommodation project will thrive here because it will be near to
residents places of work and situated within a very short distance of a
wide range of other facilities including public transport, restaurants,
supermarkets, retailers, medical facilities, schools and close to trails
and recreation, said Mr Thompson.

The development is to be located on the corner of Cherry Blossom and
Copper Beech Avenues, adjacent to the existing Remarkables Park Town
Centre, opposite BNZ and Southern Institute of Technology and will
comprise of approximately 200 apartment units split across studio, 1
bed and 2 bedroom configurations.

Styled along co-living lines with management and facilities that help
build social interaction amongst residents, the development will feature
shared lounge areas, as well as a café and bar, in addition to the
cooking facilities provided in each apartment.

The residential complex will be managed by New Ground and local
employers will be able to lease multiple units or whole floors on fixed
lease terms.

Mr Thompson said designs are now being completed and he expects to
have the resource consent application filed by October. Construction is
expected to begin early in the new year with the aim of having the first
apartments available before Christmas 2018.

Mr Porter said in our experience, mixed-use developments can cater
well for a resort towns workforce and part of that is about having a
wide range of age groups as residents and visitors. You create an
authentic and attractive community in which different people are doing
different things, at different times of the day. This adds to vibrancy and
sense of security, creating an appealing mixed-use environment, said
Mr Porter.

With more than 1,000 people already working at the airport and in
Remarkables Park, and with the High School opening nearby, and more
retailers, businesses, hotels and Conference Centre scheduled, Mr
Porter said there is already significant demand for staff accommodation
at Remarkables Park Town Centre.

Mr Thompson said New Ground Capital is seeking to lease apartments to
Queenstown businesses looking for secure, comfortable and affordable
accommodation for their staff within the attractive Remarkables Park
Town Centre location.


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