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December, 2017

Approvals been given for Queenstowns first major affordable and
worker housing complex.
In a resort desperately short of reasonably-priced locals housing,
developer New Ground Capital (NGC) has received resource consent to
accommodate about 600 people on the Frankton Flats.
Site works for Remarkables Park Apartments, below Remarkables Park
Town Centre, are due to begin in March.
The delivery of truly affordable housing for families and staff is
incredibly hard to achieve within the district, so we are thrilled to be
underway, NGC boss Roy Thompson says.
His company, which has now completed purchasing the one-hectare site,
will build 227 one, two and three-bedroom units across three buildings.
The four- to six-level buildings  with more than 17,000 square metres
of floor space  will have shared lounge areas, food and beverage
spaces, and extensive basement and outdoor car-parking.
All units will have kitchenettes.
Two of the buildings, housing about 145 apartments, will be sold down.
The third, with 82 apartments, will be leased to employers for staff
Queenstown Lakes Community Housing Trust (QLCHT) has signed a
conditional contract to buy 50 units in one of the former buildings.
Thompson expects construction of the staff housing building and the one
QLCHT is interested in to start next August. Completion is due by
October 2019.
After that, the third building will be constructed.
Thompson says theres been good demand both for the rental
accommodation and the units that will be sold off.
Prices range from $449,000 for 44sqm, one-bedroom units, while one-
bedders will be rented from $350 a week.
He confirms NGC is deep in negotiations with three building
Theres going to be a high prefabricated component so its more of an
assembly process on-site, he adds.
NGC originally proposed a 143-unit worker housing complex in central
Queenstowns Gorge Road. Despite gaining a resource consent, it pulled
the pin on the $30 million project because it couldnt make the figures
stack up. Thompson, however, says a lot of the initial work we did on
Gorge Rd has fed into this new one.
Meanwhile, QLCHT executive officer Julie Scott says its excited at the
opportunity to potentially purchase 50 units and help 50 more
households into homes.
Its a nice, sunny location, she says.
Its so central to infrastructure  lots of people are working out that
way now.

Source: Mountain Scene


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