Rules Are Made To Be...
So What's Been Happening?
Some highlights since we last caught up include helping an investor into a site which will deliver 8 terraced units on a relatively standard sized section in the ‘Goldilocks’ zone that we like. We acquired it under CV and it happens to rub shoulders with some rich-listers. No doubt we’ll attract some Nimbyism which I am somewhat infamous for. But hey-ho, Change Must Happen!
Interestingly, the site is zoned Mixed Housing Suburban (MHS), so perhaps wasn’t looked at with as much interest by others out there. We’ve even broken some of our rules, which sometimes is appropriate. We don’t normally target MHS and we tend to focus on corner sites.
But using our strategies we knew how to make this level of density work within a less flexible zone and have managed to create a compliant scheme that will cater to a growing household group – that being, single parent or small households of 2 to 3 looking for efficient, low maintenance homes, in safe neighbourhoods and walking distance to schools.
Subsequently, the numbers worked and our investor client is ecstatic to say the least. Our ‘four pillars’ have been satisfied, we know the market, we know the product, we know how much it will cost and we know what they are worth completed in today’s market.
On a larger project we're working on, good progress is being made. We’ve gone through an extensive design competition with best in class architects and we now have a front runner. We’ve held focus groups with our target market so we know what we’re building, just for them.
It’s an exciting process and will be a long road. By upholding our guiding principle of focussing on the process, we know the results will take care of themselves.
Our focus on smaller boutique developments, perfectly tailored to the market will help drive us through this period of uncertainty. You'll have seen some news in the media about the huge apartment developments going south, contractors being sacked etc etc.
Frankly that’s a space we’re not interested in. And for obvious reasons. The risks are far too great!
I might have mentioned to you in an earlier email that the Development Contributions levies developers pay to Council is going through a consultation process. For those who don’t know that’s been kicked into touch until next year.
Thank the Lord from my point of view and it looks as though our submissions were fortunately listened to. I mean how can you provide a 2 week consultation period to the development and wider community on such an important topic as this??
I’m honoured to be continuing my articles in Verve. Look out for the August issue where I log my experience of travelling to Melbourne to find out what makes them such a successful city. You think we have population growth problems? Check out Melbourne’s forecast… it’s eye-watering compared to Auckland’s, and puts things into much greater perspective.