Developer Ngai Tahu Property is building the community, which will eventually comprise 300-plus homes, on the former Wakatipu High School site.
Takiwai, the first building, comprising 27 apartments fronting Gorge Rd, was completed in 2022.
The second stage, consisting of 66 one- and two-bedroom apartments across three three-storey buildings, off Fryer St, is currently under construction.
The first building, Putakitaki, comprising 18 apartments, is due to be completed by March 2027.
Six are already under contract with strong interest being shown in several others.
"Te Pa Tahuna responds directly to Queenstown’s housing challenges by providing well-built, appropriately-priced homes for people who live and work in the region," Ngai Tahu Property GM Blair Forgie says.
"It’s a development that adds long-term value to the town.
"It’s not a development for short-term holiday rentals or Airbnb; this is an inclusive residence where whanau can build a home and a community."
Kai Tahu ki Tuawhenua rep Paulette Tamati-Elliffe says the name, Te Pa Tahuna, "draws on Maori traditions of ahi ka [burning fires] and celebrates our long connection as mana whenua within the area of Tahuna/Queenstown".
Each two-bedroom, one-bathroom apartment for sale is approximately 70 square metres with a private balcony or patio and a titled on-site carpark.
Local Ray White agent Cam Reed, whose firm is the sole agent, says "these beautiful, generously-sized apartments are being built to a very high standard, yet they have been designed to cater to first-home buyers, young whanau and local investors".
"They represent excellent value for money.
"The top-floor units will offer wonderful views towards Lake Whakatipu, and with its location next to Warren Park and proximity to the CBD it has a significant advantage over other apartment complexes in the region."
Mike Greer Commercial’s handling the construction.
