Construction of apartments under way

A week after the mudslide Marina Terrace apartment developers were given the go ahead to remove...
A week after a mudslide in 2017 Marina Terrace apartment developers were given the go ahead to remove debris blocking Lakeside Rd and install concrete blocks at the road edge. Photo: Kerrie Waterworth
The underground problems that have delayed building the $100million Marina Terrace Apartments appear to be over, and above-ground construction is finally in full swing.

The first of the 50 apartments in Lakeside Rd, with views over Lake Wanaka, had been scheduled for completion in February this year.

Project manager Matt Tuck, of Multiplied Investment Partners, said this week the first stage, 18 apartments, should now be ready by March next year, stage two by October, and stage three by March 2021.

"That’s what our contractor is telling us."

The problem has been in stabilising "a 200million-year-old glacially-affected bank and area of gravel", he said.

"So, now we’re out of the ground, we’re away."

Forty of the 50 apartments have already been sold, with the "starting price" now $2.2million, and prices ranging up to $3.6million.

Mr Tuck confirmed prices had appreciated by about $500,000 over the course of construction.

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