Cider goes with Vinegar in new Ponsonby precinct
Progressive Enterprises has unveiled plans for its $73 million development of a prime but controversial Ponsonby site, which it hopes will include a supermarket, specialty retail and office building and a mixed-use commercial and residential architectural precinct.
Progressive Enterprises bought the waterlogged 13,609 sq m site “Sohole” site located between Pollen St, Crummer Rd and Williamson Ave last year for $17 million from receivers after the collapse of an earlier development plan by now bankrupted developer Layne Kells.
The company is about to apply for resource consents for what it is says is a radical departure from former development proposals for the site.
Progressive Enterprises property development manager Brady Nixon says the supermarket, specialty retail and office building will occupy only half of the site, with the balance being offered for sale as small lots reflecting Ponsonby’s existing environment.
Mr Kells bought the site, home of the former DYC Vinegar factory, in 2004 and spent five years seeking to obtain resource consents to develop 32,300 sq m over five buildings in a mixed-use development that included substantial commercial space.
The development, which only reached a deep dug-out foundation level that soon filled with water, was to have been called Soho Square and received trenchant criticism from the trendy inner-city suburb’s residents.
Fortress Credit Corporation was first mortgagee and called in receivers after Mr Kells’ company failed to obtain pre-sales for planned residential units.
Property company Innovus came close to buying the site but could not agree on terms with Fortress, which even looked at pursuing the development itself before selling on to Progressive.
The proposed Cider building designed by John Sofo and Graeme Scott of ASC Architects will offer 14,000 sq m net of supermarket, specialty retail and office space on the Williamson Ave side of the site.
The proposed Vinegar Lane precinct created from the remaining half of the site offers 31 subdivided freehold lots ranging from 74sq m to 400sq m.
The Cider and Vinegar names reference the original DYC factory.