This retail centre will cap…
Park Street, Tauranga
Latitude Residences is a six-level, 28 apartment development in the heart of Tauranga city with commanding views of the harbour and Mount Maunganui.
Our brief was to provide a total development solution for the feasibility, design, sales and marketing, and project management of a high-end apartment complex. The development needed to be highly buildable, functional, and saleable, while delivering a return to the investors.
Initially proposed as a five-level apartment complex prior to our team’s involvement, the client had pursued various avenues in an attempt to develop a profitable and marketable product. However, the overall apartment typology, views and outlook, and car park ratio did not allow for feasible development.
Once engaged, we undertook a review of the development and overall feasibility then identified an optimised building and layout that delivered constructability and saleability.
Senior Development Manager
The outcome of our involvement in this project was an improved investment return in the region of 20%. As well as an overall higher quality product, leading to greater client, investor, and buyer certainty at the point of sale. The higher quality design, including visual renders of the apartments, allowed them to be sold off the plans while assuring the purchaser of the development’s quality.
As the first apartment building constructed in the city in the past decade, the Latitude Residences represented a major milestone in the Tauranga property scene and a significant step towards its goal of becoming a more compact city.
Our processes and solutions allowed for 27 of 28 apartments to be sold off the plans prior to completion, providing certainty around funding and delivering greater returns to the client than they had initially forecast.
We were delighted to have Latitude Residences awarded with Merit for the Multi-Unit Residential Property Award at the 2021 Property Council New Zealand Awards.