Dunedin developer Tony Clear said he was pleased with the way the first stage of Anscombe Village, the more-than-250-unit student accommodation in Anzac Ave, had gone.
"In terms of the company’s feasibility the building came in on time and on budget and the rents meet our expectations."
However, the next stage for the project was undecided, Mr Clear said.
"We would be hoping [to build] a mirror image of the building we have there now, but just depending on where it sits in the cycle, in terms of demand."
The decision would be made halfway through next year, Mr Clear said.
He hoped to be ready to start a second building on the site in time to be ready for the 2025 academic year.
The second 67-unit building would include two six-bedroom units and two four-bedroom and would primarily have one-bedroom units.
The original vision for the development included 264 units of accommodation, a hotel and commercial property including a dairy and a gym.
There were consented concepts for the commercial properties in Anzac Ave, including a 57-room hotel.
However, a decision still needed to be made based on the demand for such a project in that location, Mr Clear said.
Meanwhile, demolition of the old Miller Studios’ building started earlier this week.
Mr Clear said the project had no use for the building and it was going to come down at some stage anyway.
"It was a fire hazard, it was unoccupied and we just thought it was appropriate to get rid of it because it’s more of a hassle for us."
