Groundworks have just begun on the 4.8ha site to the north of the shopping centre on Marshland Rd.
Colliers national retail property consultant Evan Harris said demographic reports show the area has a residential catchment of 100,000 people.
"We expect it to be complementary to The Palms (shopping centre), because they've got mostly specialty stores, which are 100 to 150 square meters, small fashion stores.
"Our minimum size is 450 square meters. So it's quite a different style of tenant."
An anchor supermarket chain thought to be Woolworths and a homeware store have been confirmed for the site.
Research shows the city's eastern and northern suburbs are under-catered for when it comes to shopping options compared to the west.
The developers estimate stage one of the Homebase project will be completed by the middle of next year.
- By Geoff Sloan, made with the support of NZ On Air