However, a final decision on exactly when the $10 million, 24-unit complex will be built by Presbyterian Support Otago (PSO) depends on whether there is enough interest from potential buyers.
PSO chief executive Gillian Bremner said the organisation "has always" intended to build a life-care retirement village in Meadowstone Dr next to its existing Elmslie House rest-home.
But, a slowing housing market could thwart plans to start construction in 2009 on the planned Wanaka Retirement Village, which comprises 14 two-bedroom villas and 10 one-bedroom apartments.
"The question now is whether construction starts next year, or is delayed until the market is more accepting of it," Mrs Bremner said.
A decision on when to proceed depends on the number of signed registration of interest forms received in the next few weeks from people wanting to be the first occupants, she said.
Two meeting will be held at St Andrews Presbyterian Church in Tenby St where potential retirement villa purchasers can register their interest.
The first meeting is invitation-only, for people who have previously expressed interest in knowing more about the village plans, Mrs Bremner said.
A second public meeting will be held at 1pm on August 28.
A final decision on when to proceed will subsequently be made by the board of Presbyterian Support Otago, Mrs Bremner said.
The number of registered interest forms required for the board to proceed was not known at this stage.
"It will be significant, but not equivalent to the total number of available units," a PSO spokeswoman said.
Indicative prices for a one-bedroom apartment are about $300,000, and a two-bedroom villa $450,000.
