The controversial plan to build a $1.4 billion high-density housing development at Okura, outside northern Auckland's city limits, has been sunk by drawn-out appeals.
Todd Property managing director Evan Davies said the company had decided not to proceed with an appeal in the High Court and instead flagged the "considerable interest" from people who wanted to "secure land at Okura in order to build substantial homes".
The company had "carefully considered the issues relating to housing development at Okura, and the timeframes involved in continuing with the appeal process".
"On balance, we have decided not to proceed with the appeal and to focus on other developments.
"We remain disappointed that this outcome will not allow for the creation of new housing and a 55ha extension to the existing Long Bay Regional Park, which would have guaranteed public access to the waterfront for generations to come."