The Environmental Protection Authority panel considering the development issued a decision this morning granting resource consent.
It comes after the transtasman consortium behind the development submitted revised plans to the panel on December 2 that reduced the heights of the five inter-connected buildings making up its first two stages.
The changes, which will result in fewer 'co-living units' and car parks, were in line with those recommended by the panel last month, when it indicated it would reject the proposal unless the building heights were lowered.
The consortium consists of Melbourne developer Ninety Four Feet, property company Centuria Capital and Britomart Hospitality Group.
Ninety Four Feet managing director Dean Rzechta said in a statement the consortium had preferred its original submission to the panel, but Lakeview Te Taumata would deliver a ‘‘world-class development and amenities for the Lakes District region’’.
Centuria NZ chief executive Mark Francis said he was pleased to take another step closer to construction, and that Lakeview Te Taumata would be a "masterpiece" precinct adjacent to the resort town's CBD.
On completion, the development is expected to comprise about 450 residential apartments, 79 ‘co-living’ units, 600 hotel rooms and 10,000sqm of commercial or retail space.
It will be built on 3.3ha of a former camp ground near the Skyline gondola, overlooking central Queenstown and Lake Wakatipu.
The consortium signed a developer agreement with the Queenstown Lakes District Council in 2019, and council contractors began subdivision and civil works in 2020.
That work is expected to be completed next September, with construction of the buildings to start late next year.
The whole development is expected to take more than a decade to complete.
