A year ago, Australian-owned New Zealand operated company Summerset purchased a 1.9ha block of land in Shetland St, Dunedin, for $1.4 million, and shortly afterwards received Overseas Investment Office clearance to go ahead.
Summerset had planned to begin construction of the multilevel apartments, villas and hospital by the end of this year, but chief executive Norah Barlow said increased demand from local families wanting to relocate parents from Christchurch prompted the project to be "fast-tracked".
"We've pushed Dunedin up the priority list following a significant surge in inquiry after the tragic events in Christchurch," Ms Barlow said.
"Dunedin is now at the top of four [current] projects," Summerset's general manager of marketing and sales, Tristan Saunders said when contacted yesterday.
Summerset is at present working with Dunedin architects and planners.
Its resource consent application is "imminent", with building consent and construction tendering scheduled for coming months and construction "ideally" beginning either in July or August, he said.
The project remains budgeted in the $40-million to $50-million range, and subject to consents, the facility could be completed by "early-2012", Mr Saunders said.
Summerset is the third-largest provider in the country and operates 12 retirement homes in the North Island with 1700 residents.
Besides Dunedin, it has land banked three other sites for future development; in Hamilton, Katikati, north of Tauranga and Karaka, south of Auckland.
While Dunedin is the company's sole South Island site, it is "actively" looking at other southern properties at present, Mr Saunders said.
Summerset was founded in 1994 and last year won the industry award of Best Retirement Village Operator, in both New Zealand and Australia.
It is 100% owned by Quadrant Private Equity Group and is targeting development of 100-150 new units every year, either at existing sites or new development sites.
