$13 million apartment complex planned for Frankton

 
$13 million apartment complex planned for Frankton20 Mar 2013

A Hamilton property developer plans up to 50 apartments and shops on a long-vacant site he has bought on the corner of Lake Road and Hall Street, Frankton.

Andrew Yeoman, a promoter of modern urban design principles in his current 38 standalone house project in Queens Avenue, Frankton, said he had commissioned Auckland-based urban design specialist Dan Phillips who has worked in Europe and the United States, as architect for the $13 million complex on the 4800sqm site.

The project, which needs resource consent, will be two to three stories high and will feature up to 600sqm of service retail such as a dairy and laundromat. Offices could be worked into the design, Mr Yeoman said.

He aims to start building this time next year, once the Queens Avenue project is finished. Only 12 of the 38 homes there are still unsold, he said.

The Lake Rd-Hall Street site is currently zoned commercial/service. The Hamilton City Council's draft district plan will see this changed to industrial, which would make the development harder to accomplish, Mr Yeoman said, so he will be seeking consents soon before it changes.

He has yet to decide whether to rent out the planned one and two bedroom apartments, which will be in easy walking distance to the city, or sell them for around $300,000 each.

Mr Yeoman said there is strong demand for apartments on Hamilton city fringes, from buyers and prospective renters who want low maintenance living and no lawn and garden upkeep.

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