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Sanderson Group says construction of 78 independent living apartments in the first of three towers is on track for residents to occupy in December 2026.
The second apartment tower is planned to be finished by 2028 and the care facility by 2029.
An impression of an apartment in the Sanderson Group's retirement village and aged care facility on Pitau Rd, Mount Maunganui, which is under construction.
Neighbours have previously spoken out against the project, claiming they were “blindsided” when they found out it could be up to 22m high, or six storeys.
An impression of an apartment in the Sanderson Group's retirement village and aged care facility on Pitau Rd, Mount Maunganui, which is under construction.
How big are The Pitau apartments?
Sanderson Group chief executive Jared Baronian told the Bay of Plenty Times earthworks were progressing well, with the site largely retained, sheet piles installed, and the “dig out” for a 180-190 park basement was “well under way”.
The Pitau Rd site before construction started of the Sanderson Group's retirement village and aged care facility.
The Pitau Rd site in October - construction is under way of the Sanderson Group's retirement village and aged care facility.
Baronian said different room configurations were available for the independent living apartments, ranging from 80sq m to 150sq m with two or three bedrooms.
The penthouses would be “in excess” of 150sq m, he said.
Baronian said the views had been “maximised” from every apartment and the design allowed for a lot of natural ventilation.
Each apartment had an in-built electric fireplace and cabinetry, 2.75m high-stud ceilings, and windows designed to reduce heat transfer, he said.
How much do The Pitau apartments cost?
Baronian said the starting price for the apartments was $1.65m, of which there were a “handful”.
Most apartments were between $2m and $3m. The penthouses were north of $5m, he said.
There would be 220 new homes across three towers.
There will be 220 new homes across three towers - an impression of the Sanderson Group's retirement village and aged care facility on Pitau Rd, Mount Maunganui.
Baronian confirmed sales were proceeding off the plans and five apartments had been sold.
The majority of inquiries were local including people with farming, business, and kiwifruit sector backgrounds, he said.
Baronian said the minimum age for entry was 65.
Having independent living and a 24/7 care facility on-site was a “huge consideration” for potential buyers who may need care in the future.
‘It doesn’t get better’
Baronian said sustainability features included solar panels and collected stormwater being treated, filtrated, and put back into the ground.
A fleet of electric vehicles and e-bikes were available for resident use plus shuttles for some errands, meaning residents may not need to own vehicles.
An impression of the Sanderson Group's retirement village and aged care facility's swimming pool.
Baronian said amenities on-site included a wellness centre, swimming pool, gym, sauna, residents’ lounge, billiards room, cinema, library, cafe, and restaurant.
It was two blocks from the beach and a 20-minute walk from the base of Mauao, he said.
“It doesn’t get better for retirement living in New Zealand.”
Baronian said about 30 to 40 people were working on-site daily and this would rise to more than 200 in 2026.
Mount retirees eager to stay
Sanderson Group chief commercial officer Cory Dixon said he had spoken to interested buyers from Mount Maunganui who wanted to keep their lifestyle without moving “to Pāpāmoa or Bethlehem”.
Dixon said residents secured an Occupational Right Agreement for their apartment, which included access to all facilities.
Sanderson Group retained legal title to the land and the apartments within The Pitau, Dixon said.
“This is a standard model used across the RV [retirement village] industry.”
A price tag’ for views
OneRoof editor Owen Vaughan said The Pitau’s prices were typical for Mount Maunganui.
He said “higher-end” apartments on the general market had a rateable value close to $4m. In the past, Mount Maunganui apartments had sold for up to about $10m.
Vaughan said the ownership model in a retirement village may give some buyers “pause for thought” as they would not earn capital gains.
Retirement Villages Association executive director Michelle Palmer said the development would provide another option.
“A lot of people like little gardens and things where they don’t want a view, whereas if you want to be close to the water and have a view, there’s a price tag with that.”
Palmer said there were already retirement village units in The Pitau’s price range such as The Foundation Village in Parnell, Auckland.
She had seen “older style brick and tile” retirement village units advertised for under $400,000.
“There is that range across the board depending on where people want to go. And it comes down to what the amenities are as well as location and age of the property and whether or not there’s an aged care facility on the site.”
Megan Wilson is a health and general news reporter for the Bay of Plenty Times and Rotorua Daily Post. She has been a journalist since 2021.
