Alpine Aqualand won an excellence award in the tourism and leisure category, while Te Ahi, the final building in Ngai Tahu's Post Office Precinct, won a merit award in the mixed use property category.
ASC Architects submitted Alpine Aqualand, which opened as a major addition to the Queenstown Events Centre in June 2008.
The aquatic centre was designed to be a landmark building, reflecting the special character of the district and to provide a memorable aquatic experience for residents and visitors to the region.
Te Ahi, a 4173sq m property which opened last year, was submitted by Ngai Tahu Property.
The building comprises two levels of premium grade office space above ground floor retail space, accommodating retail, a cafe and the Post Office.
Judges said developers were faced with the challenge of "dealing with Horne Creek", which borders the site.
The result was a "very attractively landscaped area" which provided an attractive backdrop to the property.
Chief judge John Dunn said there were fewer entries to the competition this year, attributed to the economic climate, but the quality of submissions and developments was very high.
Entries went through a 12-week process where 10 judges reviewed each submission, setting it against detailed criteria, and made site visits.
Submissions needed to show economic and financial data and were judged on the return on investment, operation and maintenance factors, the degree of difficulty, environmentally sustainable features and urban design principles.
The supreme award went to the NZI Centre, in Auckland, submitted by the Newcrest Group.