Thursday, June 20, 2024

Developers race to Hamilton river precinct

Property companies across New Zealand have lined up to help develop prime riverside land in Hamilton, the city’s council said today.

In November 2021, Hamilton City Council invited developers to complete a formal Expression of Interest, in a search to find a partner to work with and develop the 242-266 Victoria Street site next to the city’s Victoria on the River precinct.

Council envisages a multi-storey mixed-use development on the site, including underground parking, ground and first floor retail, hospitality and commercial space. Residential apartments would be built on upper floors to encourage inner city living, it said in a statement.

Council says it has received interest from five separate developers from within Hamilton and beyond.

Hamilton Mayor, Paula Southgate says she is not surprised by the level of interest.

“For a start, this is a unique opportunity. A 2000sqm site in the heart of a fast-growing city that we will transform into a vibrant development open to the stunning Waikato River. It’s a huge opportunity for any developer and will be a game-changer for our Central City,” the Mayor said.

She said Council staff had worked with an evaluation panel to narrow down the applicants to four developers, including two from Hamilton.

These developers have been invited to progress to the next phase, a Request For Proposal, where they will provide a more detailed overview of their concept and how it aligns with Council’s desired outcomes.

“Throughout the process we’ve been very clear on the outcomes we want to deliver for Hamiltonians. So I’m looking forward to seeing how developers propose bringing those to life,” Mayor Southgate said.

Central City Advisory Group chair, Geoff Taylor said he was thrilled the project was moving forward.

“The calibre of the developers interested in this site is amazing. Just imagine how Victoria Street will start to look with this classy extension of Victoria on the River flowing into the Waikato Regional Theatre, an iconic pedestrian/cycle bridge and an exciting sports hub at Ferrybank. This is a vision I get up for each morning,” he said.

With the Request For Proposal closing in mid-March, Council staff expect to put forward a preferred partner to Council for approval in April before detailed design work can begin.

More information on the development can be found at hamilton.govt.nz/mef.  

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