Construction started on the James Line site in January, and we’re expecting to issue titles next August.
The tender period for the first 14 sections is now open. These sections range in size from 480 – 730 sqm. Future sales releases will include some smaller section sizes.
While it is a tender process, we have sought independent valuations as a guide for buyers.
These sections have indicative values ranging from $350,000-$380,000. On tamakukuterrace.nz we have listed the indicative value for each section for interested buyers to consider. Interested buyers can make an offer on more than one section, but you will only be able to purchase one section in each sales release.
More information available at tamakukuterrace.nz
On our website tamakukuterrace.nz we have all the information needed for interested buyers. This includes site maps, tender documents, how to make an offer, valuations, design guidelines and common questions and answers for purchasing land.
We also have this information available at our Customer Service Centre at Te Marae o Hine-The Square.
Tamakuku Terrace has 114 sections, with 79 sections making up Stage One. We will be selling Stage One in four different sales releases over the coming months.
We had hoped to have an open day on the site for interested buyers, but this isn’t possible under current Covid-19 Alert Level guidelines. We are keeping an eye on alert levels and hope to have an open day at some point over the coming months for those who’ve purchased sections, or are still hoping to. As construction is still underway at the site, it is not possible to enter the subdivision. However, you can walk along the shared pathway between James Line and Stoney Creek Road to see the site from afar.
An exciting step forward in helping Palmy’s housing market
Mayor Grant Smith says Tamakuku Terrace is the first time in decades that Council has released land. He says that with a growing city, adding new sections to the market as quickly as possible is essential.
“There is a shortage of land in the city now so releasing these sections will hopefully contribute in a small way to slowing the increase in house values in Palmy. We are keen to get all of Stage One released swiftly, so if buyers miss out on a section, they can take comfort that more sections will be available soon, and in Stage Two.”
He said it was also great to see the public’s excitement last week that Council had teamed up with community housing provider ‘Homes for People’ to create affordable homes on 20 of the sections at Tamakuku Terrace.
Chief Executive Heather Shotter says Council is committed to getting more people into home ownership across our city.
“We need to make room for another 5,500 homes in our city over the coming decade. We therefore need to ensure adequate land is appropriately zoned and serviced to streamline the city’s growth. As well as this development, over the coming months we will be consulting on District Plan changes to rezone significant new areas for housing at Aokautere, Ashhurst and Kākātangiata. This should unlock more than 20 years of development capacity by the end of next year.”
Ms Shotter says the District Plan also has a range of levers to help ensure a range of housing is available by actively encouraging infill housing, multi-unit housing development, minor dwellings, apartments and working with developers on their consents to make it easier to progress development throughout our city to get more people into home ownership.