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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.