The February 2021 Edition of the BOP Business News featured Luxridge Apartments, Tauranga’s newest and most luxurious apartment project. Eight months on we contacted the developer and discussed the ups and downs of developing properties during a global pandemic. Apart from the usual feedback about Resource Consent/Resource Management delays with the local council, SSLA directors Kelly Cotter and Rob Gartshore expressed their views on meeting today’s challenges in an ever-changing global market.
First the good news, apartment living is being embraced by the Tauranga community as well as the wider New Zealand housing market. Luxridge has a mix of purchasers from Tauranga, the Waikato, Auckland, Wellington, and the South Island. Sales continue to exceed expectations with 14 of the 24 apartments sold. The developer is in negotiations with three more prospective purchasers but Auckland’s Level 3 restrictions make finalising those sales difficult.
Slight changes to the architectural drawings allow for better use of modern building technology. The façade engineers’ suggestions ensure a warm, dry environment in winter months with crisp, fresh living throughout the spring and summer. Luxridge Apartments are unique in that the building has an on-site fitness centre. Purchasers looking for additional workspace (without the need to leave the building) will find separate office/hobby rooms available; these units are adjacent to the fitness centre on Level A and two of the five units are sold.
Many purchasers have opted to purchase an additional storage unit and there are three different size storage units to choose from.
The not so good news. As anyone keeping up with the over stretched global supply chain knows all too well, costs for building materials and appliances continue to rise. Raw materials and shipping costs are at their highest levels in over 40 years. In order to meet feasibility requirements, Luxridge has instigated price increases to meet the cost blowouts. The project remains on track with demolition, site clearance, and sub-structure work expected to begin in the first half of 2022.
Cotter and Gartshore acknowledge that SSLA is in the same boat as all New Zealand developers. Developers must keep the construction schedule reasonable and only promise what they can deliver. The Luxridge core team of First Principles Architects, WSP Engineering, CMW Geotech, Urban Lounge Interiors, the Longview Group, and Fluid Engineering Consultancy remain dedicated to meeting today’s challenges. The Luxridge Apartment development that BOP Business News featured eight months ago remains the Luxridge of today, “Apartment Living that Aspires to New Heights”.
The finished product promises to be a new landmark in Tauranga apartment living. The Tauranga CBD will benefit greatly from Luxridge and all other city apartment projects that bring life back into the city centre.
For floor plans and a list of sales, visit www.luxridge.co.nz