The Government has approved the 7th Queenstown special housing area yesterday for an expected 300 homes.
Building & Housing Minister Nick Smith said the proposed development on 51ha of greenfield land on Ladies Mile in Queenstown included a retirement village comprising independent villas, serviced apartments & staff accommodation units, plus a 72-bed rest-home care facility.
“The bulk of the new housing is for a retirement village. While this does not directly help young first-homebuyers, it enables older people to move into more appropriate housing and frees up hundreds of other homes.
“The developer has reached an agreement with the Queenstown-Lakes Community Housing Trust, facilitated by the Queenstown-Lakes District Council, to provide land for community & affordable housing. There is also a requirement on the main development for 20% of homes to be at least 10% below Queenstown’s average house price.”
The combined yield of Queenstown’s 7 special housing areas is just under 1000 homes.
Attribution: Ministerial release.