Bigger, fewer apartments are on way

Auckland apartment developers are changing their building plans.

Brady Nixon, of Firstland Group, said his project to build 64 units on the edge of Basque Park in Eden Terrace had been scaled down to a 46-unit project. Units, which were to be 50sq m to 112sq m and to fetch about $500,000, had been expanded to 70sq m to 250sq m and were expected to sell for $526,000 to $824,000.

Nixon said apartment buyers had become more discerning and were prepared to pay more for better design and larger living areas.

Golden Mile (Vincent St) Trust has also changed its plans for 135 Vincent St. It had planned to build a 14-level block of 128 apartments, but has amended that to a 16-level block with 111 units.

Auckland City said the revision came after it notified a plan change to improve apartment standards, including more rigorous urban design assessment criteria, outlook space requirements and new minimum standards for apartments.

Although Golden Mile could have built to its original plans, which had consent, it had decided to alter the project, the council noted.

David Henderson's Kitchener Group has also scaled back its apartment block planned for the corner of Albert and Swanson St. The units and offices in the lower levels will now be larger.

Redesigns are costing some developers up to $500,000 in planning, design and consent fees, but they said the increased costs were worth it because the market had changed so dramatically.