Latitude Residences

Park Street, Tauranga

Client:

TYBI Limited

Location:

Park Street, Tauranga

Completed:

May 2019

Project Budget:

$35 Million

Project Partners:

Contractor - Form
Building & Developments
Architect - Ignite
Planners - Boffa Miskel

Project Services:

Development Management
Project Management

Project overview

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.

This is a collaboration our team are extremely proud to have been a part of – for the project team and the investors behind it, to be able to deliver a project of this stature for Tauranga, that supports a more compact city and provides alternative housing choice in the area.

Craig McCormick

Senior Development Manager

Project outcomes

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.

Latitude Residences