The raising of pre-cast concrete panels and structural steel work on its $15 million village centre building is scheduled to begin soon.
Construction at the 1.9ha site in Shetland St began in mid-2012 and about 50 villas have been completed.
The first of the 30 present residents moved in during January. Work is expected to be completed by early 2014.
Summerset site manager Paddy Bleach said a crane had been installed on site for a variety of heavy lifting jobs to begin the basement and ground floor level, including raising
pre-cast concrete panels and moving large bundles of reinforcing steel.
So far, more than 80% - 51 of 60 - of the villas at the site have been completed, and the main building is expected to be ready in about seven months. It will have 40 apartments and also 40 separate care beds.
Earlier this week, Summerset reported it had sold 23% more occupation rights in second quarter trading this year than in the corresponding period last year. Summerset sold 100 occupation rights in the second quarter, up from 81 in the corresponding quarter last year, the company said.
Of those, new sales of occupation rights rose 16% to 52, while resales increased 33% to 48, it told BusinessDesk.
Retirement village stocks have been among the 10 best-performing on the New Zealand stock exchange in the past year as investors anticipate growth supported by an ageing population.
Shares in Summerset have surged 73% in the past year, taking the company's market capitalisation to $609 million.
Ryman Healthcare stock has gained 90% in the past year, taking its capitalisation to $3.3 billion, while shares in Metlifecare have risen 52%, increasing capitalisation to $663 million.
