Lakeview Project Progressing

The Lakeview project is progressing well with the council having approved the selection of two participants to take to part in a request for proposal (RFP), Queenstown Lakes District Council chief executive Duncan Field said.


The development of the 3.96ha council-owned freehold property, west of the Queenstown Lake View Holiday Park, was approved in 2004.


“The council’s objectives for the site are two-fold. We require a high quality residential development and a substantial financial return for the community, money that will be used for other community projects,” Mr Field said.


The council would only ‘sell’ the site on the basis of a long-term, terminating lease. The development was to be predominantly residential, owner occupied and longer term lease.


Requests for expressions of interest (EOI) were advertised nationally and in Australia and the United Kingdom in May/June 2007, with a dedicated website and direct mail-out targeting potential developers.


“A number of substantial expressions of interest were received and these have been evaluated. It is worth noting the expressions were of an exceptional standard,” Mr Field said.


The council was comfortable with the process and the final two participants selected to proceed to the next stage.


“Those selected have been provided with a ‘request for proposal’, the closing date being mid-February, 2008. The proposals will include concept designs for the whole site,” Mr Field said.


The council expected there would be a component of visitor accommodation, a boutique hotel or similar. An essential other component would be the provision of community housing.


“The exact mix of uses, design and layout is for the participant in the process to propose but the emphasis must be on quality and design approach that will set the example for future development in central Queenstown,” he said.


It was expected the high density zoned land would be leased on a terminating tenure which would probably be between 90 and 120 years. “The two successful candidates considered that length of tenure to be very acceptable,” Mr Field said.


The leasehold system meant the community would not get as much money up front, as it would with a freehold sale, but would be able to share in the continuing appreciation of the value of the properties into the future.


"The leasehold option is an investment for future generations in Queenstown,” Mr Field said.