Auckland Council has unveiled plans for a 52 storey building in downtown Auckland.
Situated on a vacant site at the corner of Elliot and Victoria Street, the development will cost Shanghai-based New Development Group $350 million. The site has been a carpark since the 1980s.
At 209 metres tall, the tower will only be shorter than the nearby Sky Tower which stands at 328 metres.
The building – which is located on the route of the City Rail Link - has been given planning consent by commissioners, says Mayor Len Brown.
It will comprise a 302 room hotel and entertainment complex, residential apartments, shopping centre, restaurants and cinemas.
The proposed tower does not have building consent yet but that is targeted for 2015. It is expected to be finished by 2020.
New Development Group’s plan is not the first time a developer planned to build on the site. Back in 2007 Korean developer Dae Ju was granted resource consent for 67 storeys to be known as Elliot tower.