Innovative affordable housing project for Wanaka

Sotheby's real estate has just issued the following details of a new affordable housing project in Wanaka.

"Expressions of interest are being sought for an equity partner or purchaser to develop nearly 12ha of premium residential land less than 1.5km from Wanaka’s town centre.

The proposed residential development – called Bright Sky – is a comprehensive, integrated and affordable urban subdivision comprising more than 200 lots. It has recently been approved as a Special Housing Area (SHA) and a resource consent application has been submitted to Queenstown Lakes District Council.

New Zealand Sotheby’s International Realty (NZSIR) sales associate Matt Finnigan says Bright Sky is an important development for the Upper Clutha.

“This is a much-needed development for Wanaka and the locally based directors of Bright Sky have invested a lot of time and resources into getting the project to where it is today,” he says. “There is an urgent, continuing demand for affordable housing in this area and the directors are now seeking expressions of interest for a committed and experienced developer who can move the project forward.”

The Bright Sky site – which has five key access points from Gordon Rd, Frederick St, Avalon Station Rd, Doug Ledgerwood Dr and the Ballantyne Industrial Area – is predominantly zoned low-density residential under the Queenstown Lakes District Council’s Proposed District Plan.

As well as sections of various sizes, the Bright Sky proposal includes the gifting of 27 allotments to the Queenstown Lakes Community Housing Trust (QLCHT), which equates to nearly 12 per cent of the net developable area of the site.

NZSIR sales associate Russell Reddell says they are pleased to bring this unique land to the market.

“The location of the site and its proximity to local amenities is a key factor that will ensure the success of Bright Sky as a residential development,” he says. “It is within walking distance of the town centre and lakefront, as well as the Wanaka Recreation Centre, Te Kura O Take Karara school and all of the amenities at Three Parks.

“As a Special Housing Area, Bright Sky has been designed to fit well within its context and will offer affordable, smartly designed homes and a range of lot sizes in an urban landscape close to the town centre.”

Expressions of interest can be submitted by email to [email protected] or [email protected] before 4pm Friday, November 22, 2019.