Like Gough, Hunt also talks of having a first-mover advantage.
Both say they see a strong demand to be back in the centre. Hunt already has commitments for 11,500 square metres of office space- there are reports of a government department moving in. He says well-known names are penciled in against many of his street-facing retail sites.
Gough says he can put names against 80 per cent of his space.
On his list is Westpac. The bank has taken the upper levels of The Terrace for a banking chamber, which Gough says, resembles a big cafe more than a traditional bank branch.
He says having first choice of tenants is one advantage of being ahead of the pack. Another is that making an early start means you get to set some of the ground rules and standards as investors move back into the CBD. You also get to set the tone.
The pair are banking on the city returning to life - something that's still not necessarily a given.
Many of Christchurch's retailers and hospitality entrepreneurs have decamped for the suburbs and are doing fine. In fact, it is said more people work in hospitality in the city today than before the 2010 earthquake. If they are working in that industry, few are in the city centre, where at times it can be difficult finding a cup of coffee.
Gough is optimistic the suburbs will lose their attraction once the centre warms up and its magnetic pull returns. He points to the huge city centre office developments springing up along the banks of the Avon within walking distance of his development, saying people working there will want somewhere to go after work. He also talks of the enormous amounts of money coming in to the city.
"There are a lot of well paid people in town for the rebuild. They work hard, they have loose wallets and they eat out a lot. If Aucklanders are thinking of expanding, they might want to consider that."
Hunt is equally confident. He says the Restart Mall - a temporary retail centre immediately next to his site - has given people a taste of going back in to the central city: "They like the open-air feel. We're going to give them the same feel."
Hunt says as many as 1500 people will be working in the offices on his site. A further 1000 or so will be in Westpac office next door.
If that's not critical mass, one side of his retail development is directly opposite the Ballantynes store - a major drawcard - while the other side faces hotels and Cathedral Square.
Both CBD developments are designed to be airy. Gough and Hunt stress they are not using all the space but want to let light and air in. The Terrace will feature two stories of bars and restaurants connected on both levels. There is a central lane open to the sky. Cashel Square will have an open lane, covered arcades, and a large central courtyard.
Much of the city centre rebuild is financed by insurance money.
Gough says there's talk of $30 billion of identified insurance funds entering the city. However, he says that is only the start and as much as $60 billion is earmarked for the rebuild. In his case he says he is spending three times the amount he received from insurers and his new development amounts to four times as much space as his previous CBD holdings.
Much of the extra money pays for the additional engineering required to meet new building codes. Gough talks of steel wires with springs so buildings can move, and of low damage designs with two-way hinged joints designed by University of Canterbury engineers.
Some of the money is being spent on architectural features; Gough is determined to remake his part of the city in a distinctive contemporary style, complete with wisteria-covered walls, pickled pine claddings and folded steel exteriors.
A new start
The iconic Re:START Mall - a symbol of Christchurch citizens' desire to reclaim their CBD - will be around for a bit longer yet.
Earthquake Recovery Minister Gerry Brownlee says "with its clever use of brightly coloured freight containers it has become an icon for the recovery in Christchurch, a place for locals to gather, shop, and be entertained, and a very popular destination for tourists."
A partnership between the Crown and the private sector will ensure the mall continues operating with the use of another central city location.
The arrangement will see Re:START Mall retailers located on the northern side of Cashel Mall shift to a combination of Crown-owned and private land in the area of the Retail Precinct bounded by Oxford Terrace, Cashel St, Plymouth Lane and Lichfield St.
This will allow permanent Retail Precinct development to take place in the existing mall area. The Crown is providing support for the relocation of the mall in the form of a grant of $1.27 million to the Re:START the Heart Trust.
"As the new Retail Precinct develops and permanent buildings are built on space Re:START Mall currently occupies, there is a need to find a new location, and I'm thrilled the Government could play a big part in making this happen," says Brownlee.
"This arrangement means the mall will initially be able to operate for a year on the Crown-owned land, with potential for it to be extended to a second year."
