Southern Ventures Property Ltd has proposed the development at a site in what is known as old Albert Town, where the Cardrona River meets the Clutha River.
The proposed subdivision, five minutes from Wanaka, will include a neighbourhood reserve, two wetland ponds, a "pocket park" and walking trails connecting to the Cardrona River, consent documents show.
In his urban design assessment of the project, landscape architect Richard Tyler said the proposal would provide for a high degree of residential amenity.
"The new neighbourhood will form an appropriate extension to the low-density suburban fringe at the south-eastern end of Albert Town.
"The density range and street design will enable a spacious, green environment for its future residents, and it will be well-connected and liveable," he said.
The proposed subdivision would be the newest addition to Albert Town, which, according to the Albert Town Community Association website, was first settled in the late 1850s.
The application said the proposed site was identified as a flood hazard area associated with the Cardrona and Clutha rivers.
As a result, the proponents have said they would raise the area of residential development with earthworks above a minimum flood level.
"The proposed residential earthwork fill height is to be set at no less than 1 in 200-year ARI [Average Recurrence Interval] flood level plus 500mm," the application documents said.
Lot 100 was proposed to be a local purpose reserve, they said.
The documents said in addition to the 42 proposed residentials lots, lot 200, the balance area of the site zoned rural lifestyle would have a building restriction overlay.
"The proposed reserve would provide stormwater infrastructure for the site plus recreation opportunities and access to the balance allotment (lot 200), and the Cardrona River corridor beyond.
"This area is to be enhanced for stormwater, ecological and recreational purposes as part of the proposed development," the proposal said.
An urban design peer review submitted by Paula Costello said she agreed the proposal would add to the living experience of the area.
"This is increased by the proposed street landscaping, roading design and provision of reserve spaces.
"I agree that the pocket park proposed as lot 100 will have positive benefit in terms of residential amenity and can foster community custodianship," she said.
The combined area of the site was 8.6ha which lies north of the Cardrona River and south of the existing Albert Town township, the proposal document said.
The residential lot sizes would range in size from 514sqm to 916sqm, it said.
The proposal included two roads as part of the development, a new intersection and cul-de-sac.
Data from realestate.co.nz released late last year showed Albert Town had an average asking price of $1.7million — an increase of 225% on the average asking price of $553,500 in 2015.
The proposed area is currently undeveloped.
