The project is being developed by Otherplaces, the company founded by Dylan Cazemier, the co-founder and development manager behind the nearby award-winning EBB-Dunedin hotel in Filleul St.
Resource consent was granted last year for Hanover Place, on the corner of Filleul and Hanover Sts, and the developed design is complete.
Construction is expected to begin early next year following building consent, a note to potential investors said.
There are 6200 new shares being issued in the company at $1000 per share.
The minimum investment is $100,000 and it is open to wholesale investors only.
Led by design collective Ahha, the development comprises energy-efficient, fossil-fuel-free operations, low carbon construction and material re-use.
There were 22 apartments and a ground floor food and beverage space.
