The Lakefront is envisaged as comprising a high-quality mix of commercial development and public amenity. Veros are facilitating the positive development of the Rotorua lakefront by delivering an iconic project which will meet community expectations, council needs, and iwi aspirations.
Veros property services is currently working for Rotorua Lakes Council on this high-profile project for on the Lakefront of the city. The Rotorua lakefront is a highly strategic location in the context of Rotorua. It is an important place for locals and tourists, and being gifted land has strong cultural and historical ties. From an urban development perspective, has all the necessary ingredients to ignite significant investment in land surrounding it, and attract significant volumes of people to the area.
This opportunity has been acknowledged by the Council and the Lakefront’s redevelopment is part of the Rotorua Lakes Council ‘Big Moves’ which are key projects that will propel the district forward. To enable this, the Council has determined through the 2018-2028 LTP process to allocate funding and seek partner funding for the Lakefront redevelopment.
Veros is leading the business case investigation and interrogation of a private sector commercial development opportunity as part of the wider Rotorua Lakefront public realm works. The opportunity is within a nominated location within the lakefront, and Rotorua Lakes Council has clear objectives that they wish the building to both achieve and contribute to.
In developing the Business Case, Veros is leading the consultation with Council, elected officials, lakefront operators, iwi, and the private sector. The Business Case will lead into a transparent process to nominate a preferred developer of the lakefront which will meet cultural and community expectations.
In 2019, Rotorua Lakes Council will go to market to secure a development partner that will invest into a reserve space that will contribute to the redevelopment of a world class lake front.