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Expected to open in 2017, the area is part of the Northlake development which, once fully developed, will increase Wanaka’s building stock by a third.
Colliers International Queenstown associate director Rory O’Donnell said there had already been interest from potential clients.
Being in an area which serviced almost 1500 potential homes was a motivating factor for businesses, Mr O’Donnell said.
Concerns were raised during the resource consent process that the commercial area would affect existing and already consented shopping areas.
Ignite Wanaka Chamber of Commerce president Alistair King said based on the levels of residential building activity in Wanaka, new jobs needed to be created to sustain the local economy.
There would be some legitimate concern from existing business that they would be negatively affected by more competition, he said.
If it was economically viable, new businesses would move into the town and the development allowed them that opportunity, he said.
The 220ha Northlake subdivision between Wanaka and the Clutha River was approved by independent commissioners in June 2015.
It was challenged in the Environment Court, but was approved by the court in August last year.