The Dunedin City Council is poised to finalise the sale of land to Ngai Tahu needed for a $20 million student hostel.
The council on Monday ended a public submission process on the proposed sale, which attracted just one submission, in favour of the deal, council economic development and property group manager Robert Clark said.
The submission would be reviewed by council chief executive Paul Orders before the sale process was concluded once other conditions of the deal with Ngai Tahu were met, Mr Clark said.
That was expected to happen by late November, he said.
The Otago Daily Times revealed last month Ngai Tahu Property was planning to build the $20 million hostel for Otago Polytechnic on land accessed from both Harbour Tce and Union St, beside Logan Park.
The three or four-storey apartment block would have space for up to 235 rooms - split mainly into five-bedroom self-contained apartments - and was expected to be completed by the beginning of 2015.
Ngai Tahu Property development general manager Russell Pyne released a concept image yesterday showing the planned building, although he stressed plans were not yet in their final form and could change.
Ngai Tahu had a sale and purchase agreement to buy the site from the council for $2 million, subject to due diligence, public consultation and final approval by Mr Orders.
The site was bought by the council years ago, and was now a gravel car park, but had been deemed ''surplus to requirements'', Mr Clark said last month.
Ngai Tahu Property has already applied for earthworks consent for the development, and would also apply for landuse consent next week, Ngai Tahu Property development manager Shannon Goldsmith said.
