Off Stalker Rd, just 50 metres from Shotover Primary, Twin Rivers will comprise 35 townhouses — 26 two- and three-bedders and nine four-bedders, the former over two levels and the latter over three.
All have either off-street parking or garaging and exceed regulations in terms of thermal efficiency and thermal resistance rating — most also come with in-floor heating.
They’re being developed by three locals — GJ Gardner Homes franchisee, Nick Tapper, director of high-end builder Triple Star, Peter Campbell, and builder Dan Foggo.
Tapper says the starting price for the two-bedders, which will be about 100 square metres, is under $900,000, "which, for the size of them and the carparking and the quality, we can’t see anything in the market that kind of matches it".
"Plus, we’re in an established suburban area."
He adds most townhouses will be under $1million, while the four-bedders, at 216sqm — which have good views out west — will be just under $1.3m.
"We’re trying to cater for the local market as opposed to the out-of-town investor."
Tapper notes "the most successful high-end builder in New Zealand" is joining forces with the most successful, affordable homes builder.
Campbell comments: "Nick and I are great mates, and this is an opportunity for us to pull together our complementary skills and deliver some great housing at a great price that our town so dearly needs.
"We have put a lot of work into the design and the consenting process, and we’re confident this will be well received by the market."
Tapper says they’ll start marketing the first 20 homes, via Bayleys Queenstown, this month.
"We’re expecting to start earthworks next month, and we’re anticipating having our first foundations down before the end of the year."
The developers inherited a consent for 24 townhouses which would have been about 220sq m each, but Tapper says the timing wasn’t right as the market had turned and interest rates had started going up.
"I’m pleased we changed it, even though it’s taken us almost two years to get to this point."
Meanwhile, the developers also bought commercial-zoned land on the other side of Stalker Rd as part of the same parcel.
Down the track they’re planning to build a cafe, butchery, mini-mart and upstairs offices.
