The land between the State Highway 6 approach to Wanaka and the Clutha River is owned by Corbridge Estates Ltd.
The company's two shareholders, Lloyd Ferguson and Peter Marshall, both of Wanaka, have spent five years preparing to subdivide the land into 35 ‘‘premium'' residential sites, with the bulk of the land continuing to be farmed.
Resource consent was obtained from the Queenstown Lakes District Council in July 2013.
The company's proposal at the consent hearing, said the development was designed to ‘‘facilitate and develop business relationships amongst residents'', particularly in industries such as finance, investment and technology.
‘‘Corbridge has been designed to provide such residents with country living and urban convenience, a community of like-minded people, and functional infrastructure that provides the ability to conduct business remotely.''
The building platforms were grouped into three clusters with each platform placed to ‘‘maximise outlook and shelter''.
Owners of the sites would also have shares in the farming operation.
A 7.9ha lake was proposed for the middle of the development, with jointly owned work and social buildings on the lakeshore.
Two blocks of land in the Corbridge development have a total capital value of $6.480million.
Mr Ferguson could not be contacted yesterday and Mr Marshall declined to comment.
