Sections for a new residential subdivision in Alexandra coming on the market in a few weeks will include opportunities for people looking for smaller-sized homes.
The development is a joint venture between the Central Otago District Council and AC/JV Holdings Ltd.
Property officer Tara Bates and executive manager Louise van der Voort yesterday gave an update on the project to the Alexandra Clyde and District Business Group.
An about 5.5ha block of land between Dunstan and Boundary Rds will be accessed from Henderson Dr.
The new subdivision has 71 lots that range in size from about 290sqm to 866sqm. The average size was about 478sqm.
"So it is offering a range of different options for different housing types."
The lots will be sold as empty sections. Individuals and building companies will have opportunities to purchase.
The site was cleared and the developer was finalising the subdivision engineering design, Ms Bates said.
The subdivision was likely to be done in stages, and the first, up to 20 lots, was expected to be completed by Christmas 2020. Work would begin on the site in about six weeks.
"Sections will be on the market ... probably in a couple of weeks."
Ms van der Voort said having a joint venture between council and the developer would provide good value.
"Any profit ... is shared between the council and the developer so it benefits the community."
Prices for the sections would be at market value, and series of smaller sections could enable duplex homes to be developed.
Ms van der Voort said the council was working on an affordable housing strategy, but "where council should sit on the affordability issue" was yet to be finalised.
A further block of land next to the subdivision is also owned by council and would likely become a residential development in the future, Ms van der Voort said.