The next stage of Rolleston Fields on Tennyson St has been on hold since late 2024 due to challenging economic conditions.
But the development remains a central piece in completing the town centre.
Developer Caroline Cooper-Dixon said the downturn significantly reduced interest from retailers.
"New Zealand went into recession in late 2024, with GDP declining, and it was one of the toughest six-month periods we’ve seen outside of Covid," Cooper-Dixon said.
"While inflation started to ease, people were still feeling the pinch, which flowed through into reduced discretionary spending.
"That had a direct impact on retailers. Most were focusing on developments they’d already committed to in 23/24, and there was very little appetite for new developments beyond that.”
"Those types of businesses tend to perform the strongest in tougher economic conditions, but they didn’t align with the vision we have for the town centre.”
To date, the development has focused on health and well-being-focused tenants, but the next stage will broaden that mix.
"Retail will lean toward smaller-format operators, supported by hospitality,” Cooper-Dixon said.
Hospitality offerings will be geared more toward daytime trade than evening dining, she said.
"Rolleston just isn’t quite there yet in terms of daytime population to support a flood of restaurants, with many people still commuting out and limited office density to support that level of dining.
"The whole town centre has been carefully masterplanned, and we’re taking a long-term view on getting the tenant mix right as the area grows.”
