Apartment developer shrugs off delay

Most of Union Green, shown in this artist's impression, has already been sold off the plans. Photo / Supplied

Difficulty finding a builder has delayed the start of Auckland's $120 million Union Green apartment project but properties will be ready on time for buyers, says the developer.

Farhad Moinfar, a director of Myland Partners with Andrew Fawcet, had hoped building work would start on the 150-unit complex about four months ago but the industry was extremely stretched and that meant a slightly later start date.

"It's probably taken longer to secure a builder in this construction market than we would have anticipated but that's the same for anyone in this market. We hoped to start on-site in April. So it's just a few months behind," said Moinfar.

"But we'll still be within the contractual time frames for the buyers. People will be able to move in within the contractual time."

The project is planned for 39-47 Union St near the Southern and Northwestern Motorway onramps at Spaghetti Junction. That is directly behind the new Sugartree apartments, now under construction between Union St and Nelson St.

Moinfar said a building contractor would be announced in the next few days. "We're still all go."

Virtually all the project has been presold - 95 per cent or 140 units.

The scheme was announced in March last year when properties were sold off the plans, ranging in size from one bedroom to three bedrooms plus a study, starting from about $400,000 to $900,000.

Units in a lower-rise block, The Terraces, were being advertised from about $650,000 to $1.2 million.

Zoltan Moricz, CBRE research head and senior director, said last week that plans for 28 new Auckland apartment blocks containing 1900 units have not gone ahead as first planned.

Delays and changes have also hit Saffron apartments, planned last decade to be 150 units and 46 levels but now just over 30 levels, on Albert St between Wyndham and Swanson St.

Kenny Ro, manager of Topia, which is related to site-owner KNC, said 34 to 36 levels would be built now and the underground carpark would be reduced. A High Court order has stopped demolition of the existing building ready for that tower.