September 19th, 2024
Auckland's North Shore is set to welcome its first major build-to-rent development in Takapuna, following a sale and development agreement between Eke Panuku Development Auckland and the Cedar Pacific and McConnell Property consortium, according to an Auckland City Council media release.
The build-to-rent concept, which is gaining traction in New Zealand, offers secure, long-term rental accommodation with a range of amenities typically found in high-quality hotels.
Kate Cumberpatch, Eke Panuku Priority Location Director - North, said in the media release that the agreement will result in the construction of around 350 state-of-the-art apartment homes, contributing to the agency's regeneration plans for the area.
"As well as creating new public space that reinforces the heart of Takapuna and improves connections with the beach and other key public spaces, Eke Panuku looks to make better use of under-utilised council-owned land to deliver not just development, but a multitude of outcomes that contribute positively to Takapuna's evolving landscape," Cumberpatch said.
North Shore Councillor Chris Darby welcomed the announcement, as mentioned in the media release, highlighting the importance of genuine housing choice in the reimagining of Takapuna.
"Building 350 new apartments enables a big lift in the number of people who call Takapuna centre their home, complementing the thousands who already call it their workplace or a great place to visit. This quality development is another step in making Takapuna even more vital and attractive," Darby said.
Devonport-Takapuna Local Board Chair Toni van Tonder expressed excitement for the continued progress in Takapuna's urban regeneration, as quoted in the media release, noting that the Homestar 6 build-to-rent proposal will create 350 new homes and add to the commercial vibrancy of the beach-side suburb.
"Not only will this exciting new proposal create 350 new homes in our metropolitan centre making the most of this under-utilised site, but it will also add to the commercial vibrancy of our famous beach-side suburb," van Tonder stated.