Property developer Doug Rikard-Bell has signed up construction company Brookfield Multiplex to build the first stage of his more than 1000-apartment Rhubarb Lane complex.
On the corner of Sale St and Wellesley St in Auckland's CBD, the first building will be a seven storey multi-use property with 12 loft style freehold apartments priced from almost $600,000 to almost $900,000.
The apartments, which Mr Rikard-Bell said are called “aPods” will be two storeys high and open plan, designed to double up as offices if need be.
“The buildings on Rhubarb Lane will feature the sort of style, finesse and amenity that we think people are looking for,” Brookfield Multiplex New Zealand regional managing director Tim Pope said.
Stage one consists of six buildings each designed by a different architect - this first building was designed by Syndey-based Ian Moore.
“The mixed zoning will add to the asset quality and appeal,” Mr Pope said.
The project was well positioned, Mr Pope said, and well considered. “It is coming to the market at a very good time.”
The first stage of Rhubarb Lane will include retail, an outdoor cinema, a cobblestone street and a park.
Mr Rikard-Bell has resource consent to build 20 mixed-use properties on the ex-council depot site which he bought at mortgagee sale for $43.5 million from the financiers of previous owner Jamie Peters, who is now bankrupt.
The $1 billion, ten year project was put on hold in late 2008 as the economic climate worsened but Mr Rikard-Bell last month applied for resource consents for finer details of the development.
Brookfield Multiplex’s recent projects included the new Deloitte Centre at 80 Queen St in the Auckland CBD, which was built to five Green Star Rating standards.
Marketing for the “aPods” will begin next month.