The $50 million development in Ahuriri has been given design approval by the Napier City Council West Quay Design Team and will officially launch this week.
The Boathaus on the former NJ Price Engineering site will be a mixed use development with apartments, restaurants, cafes, and commercial offices.
It is being developed by Wellington based property company Merge Property Group Limited and designed by leading national architects Archaus Architects.
Merge development manager Martin Price said approval by the design team was a major boost for the development. He hopes that construction will start late this year with completion in early 2010.
‘”This is a significant milestone and our architects and landscape designers worked very closely with the design panel and council to ensure certain aspects of the original building are still retained and that the overall design maintains the integrity of the precinct and what they are trying to achieve,” Mr Price says.
Since being announced in December there have been some minor changes to the overall design and use including an increase from 21 apartments to 34.
“We have listened to key stakeholders and feedback from the market has given us confidence to increase the number and range of sizes of apartments.
“We have been pleasantly surprised by the level of interest especially from locals and this has given us real confidence in working to a completion date of early 2010,” Mr Price said.
He added that the attraction of the development was all titles will be sold as freehold – the only development in Ahuriri to offer this ownership structure.
Merge Property Group plan to use local contractors and businesses for the development.
Jude Minor of Colliers International said there is already strong interest for the commercial space including bars, cafes and restaurants, retail and general office space.
It will be four levels with retail, commercial and hospitality on the ground floor and mezzanine floor with residential on the upper floors. Secure car Parking will be provided in the basement and at the rear of the site. Apartments will range in size from 80 square metres ($565,000) through to a five bedroom 300 m2 ($2.2 million).
The development fronts both West & Customs Quays, Ahuriri’s most prominent corner overlooking the marina. Interested parties will get to see a wide range of design plans and artist impressions at the launch to be held at Langley Twigg Lawyers in Ahuriri on Thursday May 8.
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