More apartments for Mount Maunganui
Thursday 3 June 2004
A rundown section of Mount Maunganui's main shopping strip will be spruced up in a wave of apartment projects worth $40 million.
By The LandlordTwo of the three projects, at the southern entrance to the Phoenix Shopping Centre on Maunganui Rd, will have dozens of apartments and new rows of shops at street level.
The other project, Atlas Suites and Apartments, is closer to the beach in the high-rise belt of Maunganui Rd.
The developments -- and quick pre-sales of many of the units -- suggest there is still plenty of life in the apartment market after a slowdown of projects at the Mount during the past year because of rising land values and a lack of suitable sites.
Read More - Opens in a new window
Commenting is closed
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.