"Fletcher Building has done our very best to allow for the parties to reach an agreement over an extended period, but we are not in a position to hold off development indefinitely," the company said in announcing its first half results.
"We are the legal owners of a piece of land which is fully consented, that is empathetic to iwi considerations and the adjacent stonefields site, and which we are entitled to develop," the company said.
Chief executive Ross Taylor was asked at a media conference how much longer Fletcher is prepared to wait.
"Not another seven months. I'm not putting a hard date on it, but this needs to get a resolution or we've got to move on," Taylor said.
The company said that over the last five years, the company has taken time to listen to a variety of stakeholders, including iwi who have mana whenua over the land, and also to gain all the right council and government approvals for the development to go ahead.
"We acknowledge the cultural and historical significance of the surrounding area and that's why we have worked closely with local iwi to design a scheme which gives over a third of our land to the historic reserve adjacent," Fletcher said.
"In July last year, the Prime Minister requested that we pause our development on the land we legally own to provide more time to explore alternative solutions before they came back to us," it said.
"We have respected this process and stood back as requested while the parties discussed an outcome."
A government spokesperson said: "The Government's focus has always been on supporting a resolution that respects all parties including the crown, mana whenua and Fletchers, and we are continuing to work on finding that resolution."
Fletcher said it hopes the situation is close to resolution "and we can hopefully come to an agreement in the short term" with something "which all parties can be comfortable with."
Taylor said the company had thought it appropriate to accede to Ardern's request to pause development.
"We're a big player in New Zealand and we have a lot of interfaces with society and government. The test is, we should behave reasonably and we think we have," he said.
Taylor was asked how much money a day Fletcher is losing while the site remains idle but he said "I'm not going to go down that path."
