The Timaru developer owns a 3172sqm site at 14 Reece Cres, in the Anderson Heights industrial and retail area.
Each of the 15 units would contain six or seven bedrooms with ensuites.
Mr Broadhead said the units were valued between $1.9million and $2million.
He was thrilled rental investors wanted to provide housing for the town’s workers or their own employees.
"Hopefully we are going to be signing people up ... If we meet the threshold [stage one, four units] the project kicks into gear. I would like the concrete to be down by the winter," he said.
Stage two (five units) would start in 2025. Stage three has six units.
If sales were strong, he would consider moving the whole project forward.
In 2020, Mr Broadhead got resource consent for a mixed use commercial, residential and visitor accommodation development.
However, after considering Wanaka’s chronic housing shortage he changed tack, reconfigured the layout and removed the visitor accommodation component.
The Queenstown Lakes District Council granted a variation of resource consent last year.
On December 22, independent Queenstown Lakes District Council commissioner Paula Costello approved a third resource consent application.
That addresses carparking and access standards and amends land use and subdivision conditions.
Seventeen carparks are provided.
Ms Costello noted the number of parks had not changed from the original application, although the number of bedrooms had increased.
She said because the development was in an urban environment close to both the town centre and other employment areas, other transport methods outside of private vehicles could be used.
