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Conceptual images of the planned development of a joint venture led by Mike Greer and Richard Peebles.
A large chunk of the downtown Christchurch land has been sold to two prominent developers, Mike Greer and Richard Peebles, who plan to build more than 100 homes alongside commercial space.
Crown reconstruction company Ōtākaro sold the 8,145-square-meter site bordering Gloucester, Madras and Armagh streets to a joint venture between the two developers. The sale price of the land has not been disclosed.
The land was initially reserved for an urban demonstration village that was a post-earthquake reconstruction anchorage project, but those plans were abandoned in 2015.
A sustainable housing proposal, announced in 2018, did not materialize either.
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The land was offered to the private market last month.
Greer said he had been on the lookout for the site for a long time, and detailed planning for development will now begin, with work expected to begin later this year.
TO ?? tÄ ?? karo Limited / Supplied
The land will have about 110 homes.
“We are eager to get going as quickly as possible,” he said.
Developers are planning around 110 houses, with two-bedroom apartments above commercial spaces, as well as three-bedroom townhouses surrounding a community garden.
Colliers’ agent, Courtney Doig, said nine “highly competitive” offers were received for the site, including three from Auckland.
Matthew Horncastle, a director of the Williams Corporation, which builds townhouses and apartments, previously expressed interest in the site and confirmed that he had submitted an offer for it.
“We made a very high offer with very favorable terms, but [Greer and Peebles] He obviously presented a deal on the day that attracted the attention of the government, ”he said.
“It’s a beautiful place,” Horncastle said.
He wished Greer and Peebles the best. “I know they will do something that will be good for the city, but I’m still a bit upset about it.”
Ōtākaro CEO John Bridgman said it was a fantastic regeneration result for Christchurch to secure a mixed-use development.
“Having New Zealand’s largest independently owned home builder partnering with the group behind Riverside Market, McKenzie and Willis, and the Little High Eatery developments means the site will be in the hands of proven artists,” he said.
Steve Evans, executive director of residential and development for Fletcher Building, congratulated the new owners and confirmed that his company did not make an offer.
Fletcher is building 68 homes about 100 meters southwest of the land bought by Greer and Peebles.
Those houses are part of the East Frame housing development, where Feltcher has already built 172 houses.
In total, about 900 apartments, townhouses and townhouses are planned for the eastern frame.
“Our plans are not affected by this news,” Evans said.
